On average, listings lease in the $30's per square foot per year. The Downtown Portland submarket is going through a a boost in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 2% increase in rent.
Compared to the rest of the Greater Portland market, the Downtown Portland region has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 45 listings have been listed, so you'll want to check back regularly for new listings. About 16% 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 3,420 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are around 11 floors. Most buildings in this region were built in 1948 and are Class A.
This region is fairly equally mixed residential and commercial. Arts, entertainment, and restaurants are the dominant industries in this market. Most of the folk of Downtown Portland work from home. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.