Most listings are in the $30's per square foot per year. The Buckman submarket is experiencing a an increase in rates. In the last 3 months, the median rate went up $7 per sqft per year. That's a 21% increase in rent.
Compared to the rest of the Greater Portland market, the Buckman submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 32 listings have been listed, which means new availabilities might be going fast. You'll want to be prepared to make an offer immediately. About 63% of the listings in the Buckman 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 10,000 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are approximately 2 stories. Most buildings in this market were built in 1929 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Buckman residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.