On average, listings lease in the $30's per square foot per year. The Willamette submarket is seeing a a boost in rates. In the last 3 months, the median rate increased $2 per sqft per year. That's a 5% increase in rent.
Compared to the rest of the Greater Portland market, the Willamette submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 2 listings have been listed, which means leases 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.
The standard measurement for office space in this area is around 1,630 sqft. Most buildings in this region 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 area. Commute by public transit is the most popular way to get to work amongst Willamette folk. Commuting close to an hour and a half a day is the norm for those who opt to reside in this part of town.