Most listings are in the $40's per square foot per year. The Pearl submarket is experiencing a a rise in rates. In the last 3 months, the median rate rose $6 per sqft per year. That's a 16% increase in rent.
Compared to the rest of the Greater Portland market, the Pearl region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 3 listings have come on the market, which means office spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 333% of the available space 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.
Even though the median size is 9,280 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are approximately 6 stories. Most buildings in this region were built in 1947 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.