On average, listings lease in the $30's per square foot per year. The Five Oaks region is going through a an increase in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 2% rise in rent.
Compared to the rest of the Greater Portland market, the Five Oaks region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 6 listings have come on the market, which means office spaces might be going fast. 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 2,590 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this area are around 2 stories. Most buildings in this area were built in 2001 and are Class B.
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 region. Commute by bike is the most popular way to get to work amongst Five Oaks folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.