Sommerset West - Elmonica North Retail

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Sommerset West - Elmonica North

Office Space Market Report

Number of Listings (last 90 days)
2
Median Rate ($/sqft/yr)
$31
Median Size (sqft)
1,380
As of: June 23, 2017

Sommerset West - Elmonica North Rates

The typical asking rate per listing is in the $30's per square foot per year. The Sommerset West - Elmonica North submarket is going through a a rise in rates. In the last 3 months, the median rate rose $31 per sqft per year.

Compared to the rest of the Greater Portland market, the Sommerset West - Elmonica North submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued region.

Sommerset West - Elmonica North Listing Supply

In the last 90 days, 2 listings have been listed, which means spaces are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 50% of the listings in the Sommerset West - Elmonica North 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 on the market, so finding a space for a small business might be tough.

The standard measurement for office space in this area is around 1,020 sqft. Most properties in this region are approximately 1 stories. Most buildings in this area were built in 1988 and are Class A.

Sommerset West - Elmonica North Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this market. Most of the folk of Sommerset West - Elmonica North work from home. Commuting around an hour a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Sommerset West - Elmonica North.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Sommerset West - Elmonica North.
Research