On average, listings lease in the $40's per square foot per year. The Downtown Portland submarket is going through a a rise in rates. In the last 3 months, the median rate increased $5 per sqft per year. That's a 14% rise in rent.
Compared to the rest of the Greater Portland market, the Downtown Portland submarket has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 77 listings have come on the market, so you'll want to check back regularly for new listings. About 97% of the office spaces in the Downtown Portland are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 3,890 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are around 11 stories. Most buildings in this region were built in 1930 and are Class A.
This region is fairly equally mixed residential and commercial. Arts, entertainment, and restaurants are the dominant industries in this region. Most of the residents of Downtown Portland work from home. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.