Most listings are in the $30's per square foot per year. The Downtown Portland submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 2% decline in rent.
Compared to the rest of the Greater Portland market, the Downtown Portland submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 87 listings have come on the market, so you'll want to check back regularly for new listings. About 10% of the available leases in the Downtown Portland are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 3,500 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are around 11 floors. Most buildings in this region were built in 1948 and are Class A.
This area is fairly equally mixed residential and commercial. Arts, entertainment, and restaurants are the dominant industries in this region. Most of the residents of Downtown Portland work from home. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.