On average, listings lease in the $30's per square foot per year. The Pearl submarket is going through a an increase in rates. In the last 3 months, the median rate rose $2 per sqft per year. That's a 5% increase in rent.
Compared to the rest of the Greater Portland market, the Pearl region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 10 listings have been made available, which means spaces are probably going fast. You'll want to be prepared to make an offer immediately. About 20% of the available leases in the Pearl 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.
The standard measurement for office space in this area is around 2,100 sqft. Most properties in this market are close to 8 stories. Most buildings in this region were built in 1978 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this market. Commute by motorcycle is the most popular way to get to work amongst Pearl residents. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.