On average, listings lease in the $30's per square foot per year. The Willamette region is going through a decline in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 12% decrease in rent.
Compared to the rest of the Greater Portland market, the Willamette region has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 1 listings have been made available, which means office spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 4,470 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this area were built in 2006 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Willamette occupants. Commuting close to an hour and a half a day is the norm for those who opt to reside in this part of town.