On average, listings lease in the $10's per square foot per year. The Sylvan-Highlands submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $16 per sqft per year. That's a 44% decline in rent.
Compared to the rest of the Greater Portland market, the Sylvan-Highlands region has less expensive rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 16 listings have come on the market, which means new listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 44% of the available space in the Sylvan-Highlands 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 1,150 sqft. Most buildings in this region are around 2 stories. Most buildings in this area were built in 1971 and are Class C.
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 market. Most of the occupants of Sylvan-Highlands work from home. Commuting around an hour a day is the norm for those who opt to reside in this part of town.