The typical asking rate per listing is in the $20's per square foot per year. The Metzger submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 7% decrease in rent.
Compared to the rest of the Greater Portland market, the Metzger submarket has less expensive rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 40 listings have come on the market, which means new availabilities might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 10% of the listings in the Metzger are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 1,600 sqft. Most properties in this area are approximately 2 floors. Most buildings in this area were built in 1988 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this area. Most of the folk of Metzger work from home. Commuting approximately 30 minutes a day is the norm for those who opt to reside in this part of town.