Kerns Office Space

11 NE Martin Luther King Jr Blvd Listing
Portland, OR
# For Lease > Office & Retail Development The Fair-Haired Dumbbell is Guerrilla Development’s 56,000 SF speculative office building with ground-floor retail in the heart of the Burnside Bridgehead. At the eastside intersection of Burnside Street and the Willamette River, the Bridgehead is home to some of Portland’s most exciting new architecture and development. The Dumbbell sits squarely in the center of the action, and doesn’t shy away from attention… The Dumbbell consists of two canted six-story towers decked in hand-painted original artwork on all eight of its elevations. At each level, sky bridges connect the ~4,000 SF office spaces, giving the creative companies who work there the ability to own their own floor (or two). No two elevations are the same; tenants and visitors alike will take in impressive views of Portland through windows of varying size. At the ground floor, the Dumbbell will compliment its neighborhood with unique retail offerings and creative landscaping. Beyond it’s striking looks, the Fair-Haired Dumbbell pushes the envelope in other ways. It is the nation’s first online Regulation A crowd-funded real estate project. That means investors of all stripes —accredited or unaccredited— have the ability to invest in the Dumbbell. Guerrilla Development is dedicated to exploring the impact of neighborhood-funded real estate and what that means for the health of communities in Portland and beyond. Features - +/- 40,000 SF Creative Office - +/- 6,075 SF Ground Floor Retail - Available Late 2016 - Incredibly collaborative office environment - Wood floors - Timber frame construction - Sky bridges spanning between every floor - Each floor plate is roughly 4,000 SF per building - Please contact broker for rates

Kerns

Office Space Market Report

Number of Listings (last 90 days)
5
Median Rate ($/sqft/yr)
$26
Median Size (sqft)
7,460
As of: December 3, 2016

Kerns Rates

Most listings are in the $20's per square foot per year. The Kerns region is seeing a decline in rates. In the last 3 months, the median rate decreased $11 per sqft per year. That's a 33% decline in rent.

Compared to the rest of the Greater Portland market, the Kerns submarket has lower rates, so you should have no trouble finding a great deal in this depreciated region.

Kerns Listing Supply

In the last 90 days, 4 listings have been posted online, 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 20,200 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are close to 3 stories. Most buildings in this market were built in 1961 and are Class B.

Kerns Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Kerns residents. Commuting approximately 15 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 Kerns.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Kerns.
Research