On average, listings lease in the $30's per square foot per year. The Downtown Portland submarket is going through a decline in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 7% decline in rent.
Compared to the rest of the Greater Portland market, the Downtown Portland submarket has greater rates, and you'll have to negotiate above asking rent 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 61% of the available space in the Downtown Portland are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 4,450 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this area are around 11 floors. 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 market. Most of the folk 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.