The typical asking rate per listing is in the $30's per square foot per year. The Westlake region is experiencing a an increase in rates. In the last 3 months, the median rate rose $9 per sqft per year. That's a 31% increase in rent.
Compared to the rest of the Greater Portland market, the Westlake submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 3 listings have been posted online, which means new listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 233% of the listings in the Westlake are subleases, so you might be able to snag a great spot on a short term. 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 3,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market were built in 1988 and are Class A.
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. Commute by car is the most popular way to get to work amongst Westlake folk. Commuting approximately 30 minutes a day is the norm for those who opt to reside in this part of town.