On average, listings lease in the $20's per square foot per year. The Lair Hill region is experiencing a a rise in rates. In the last 3 months, the median rate rose $3 per sqft per year. That's a 11% rise in rent.
Compared to the rest of the Greater Portland market, the Lair Hill region has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 25 listings have been made available, which means new availabilities most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 4% of the available space in the Lair Hill are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,320 sqft. Most buildings in this region are approximately 3 stories. Most buildings in this market were built in 1974 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Lair Hill folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.