Sommerset West - Elmonica South Office Space

Sommerset West - Elmonica South

Office Space Market Report

Number of Listings (last 90 days)
6
Median Rate ($/sqft/yr)
$28
Median Size (sqft)
10,890
As of: December 3, 2016

Sommerset West - Elmonica South Rates

On average, listings lease in the $20's per square foot per year. The Sommerset West - Elmonica South submarket is going through a a boost in rates. In the last 3 months, the median rate rose $2 per sqft per year. That's a 8% rise in rent.

Compared to the rest of the Greater Portland market, the Sommerset West - Elmonica South submarket has smaller rates, so you should have no trouble finding a great deal in this discounted submarket.

Sommerset West - Elmonica South Listing Supply

In the last 90 days, 5 listings have been listed, which means leases are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 20% of the available leases in the Sommerset West - Elmonica South are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 10,890 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are around 2 stories. Most buildings in this market were built in 1999 and are Class A.

Sommerset West - Elmonica South Community

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 market. Commute by taxi is the most popular way to get to work amongst Sommerset West - Elmonica South folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Sommerset West - Elmonica South.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Sommerset West - Elmonica South.
Research