On average, listings lease in the $30's per square foot per year. The Esther Short region is experiencing a an increase in rates. In the last 3 months, the median rate increased $14 per sqft per year. That's a 55% rise in rent.
Compared to the rest of the Greater Portland market, the Esther Short region has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 9 listings have been posted online, which means leases might be leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 5,480 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are close to 2 floors. Most buildings in this market were built in 1985 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Esther Short folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.