On average, listings lease in the $30's per square foot per year. The Downtown Portland submarket is experiencing a an increase in rates. In the last 3 months, the median rate rose $36 per sqft per year.
Compared to the rest of the Greater Portland market, the Downtown Portland submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 77 listings have been listed, so you'll want to check back regularly for new listings. About 73% of the available space in the Downtown Portland 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 available, so finding a space for a small business might be tough.
Even though the median size is 5,560 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are approximately 11 floors. Most buildings in this area were built in 1948 and are Class A.
This area is fairly equally mixed residential and commercial. Arts, entertainment, and restaurants are the dominant industries in this market. Most of the residents of Downtown Portland work from home. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.