The typical asking rate per listing is in the $30's per square foot per year. The Pearl submarket is seeing a a boost in rates. In the last 3 months, the median rate increased $4 per sqft per year. That's a 11% increase in rent.
Compared to the rest of the Greater Portland market, the Pearl region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 3 listings have been made available, which means leases are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 33% of the listings in the Pearl are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,450 sqft. Most buildings in this region are close to 8 stories. Most buildings in this market were built in 1978 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this region. Commute by motorcycle is the most popular way to get to work amongst Pearl occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.