Most listings are in the $30's per square foot per year. The Downtown Portland submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 2% decrease in rent.
Compared to the rest of the Greater Portland market, the Downtown Portland region has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 86 listings have been listed, so you'll want to check back regularly for new listings. About 10% of the available leases 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 posted, so finding a space for a small business might be tough.
Even though the median size is 3,420 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this area are approximately 11 stories. Most buildings in this area were built in 1948 and are Class A.
This market is fairly equally mixed residential and commercial. Arts, entertainment, and restaurants are the dominant industries in this area. Most of the occupants 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.