On average, listings lease in the $30's per square foot per year. The South Portland region is going through a decrease in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 9% decrease in rent.
Compared to the rest of the Greater Portland market, the South Portland region has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 5 listings have been posted online, which means office spaces are probably going fast. You'll want to be prepared to make an offer immediately. About 20% of the available space in the South 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.
The standard measurement for office space in this area is around 1,810 sqft. Most buildings in this area are approximately 3 stories. Most buildings in this region were built in 1954 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst South Portland folk. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.