On average, listings lease in the $30's per square foot per year. The Northwest District submarket is experiencing a a rise in rates. In the last 3 months, the median rate rose $1 per sqft per year. That's a 4% increase in rent.
Compared to the rest of the Greater Portland market, the Northwest District region has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 7 listings have been posted online, which means new availabilities most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 14% of the listings in the Northwest District are subleases, so you might be able to snag a great spot on a short term. 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 5,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are approximately 3 stories. Most buildings in this market were built in 1956 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this region. Most of the folk of Northwest District work from home. Commuting around 10 minutes a day is the norm for those who opt to reside in this part of town.