On average, listings lease in the $30's per square foot per year. The Esther Short region is seeing a decrease in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 8% decrease in rent.
Compared to the rest of the Greater Portland market, the Esther Short region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 28 listings have been made available, which means spaces might be going fast. You'll want to be prepared to make an offer immediately. 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 3,840 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are close to 3 stories. Most buildings in this market were built in 1982 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Esther Short occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.