On average, listings lease in the $30's per square foot per year. The Buckman submarket is going through a decline in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 11% decrease in rent.
Compared to the rest of the Greater Portland market, the Buckman submarket has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 39 listings have come on the market, which means new listings most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 1,280 sqft. Most properties in this region are around 2 floors. Most buildings in this market were built in 1929 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Buckman occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.