On average, listings lease in the $20's per square foot per year. The South Portland region is seeing a decrease in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 16% decline in rent.
Compared to the rest of the Greater Portland market, the South Portland submarket has lower rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 11 listings have been made available, which means office spaces might be going fast. You'll want to be prepared to make an offer immediately. About 18% of the available leases in the South Portland 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,360 sqft. Most buildings in this market are close to 3 stories. Most buildings in this region were built in 1954 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst South Portland occupants. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.