The typical asking rate per listing is in the $40's per square foot per year. The Downtown Portland region is going through a an increase in rates. In the last 3 months, the median rate went up $5 per sqft per year. That's a 14% increase in rent.
Compared to the rest of the Greater Portland market, the Downtown Portland submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 77 listings have been listed, so you'll want to check back regularly for new listings. About 97% of the available leases in the Downtown Portland are subleases, so you might be able to find a shorter term or below market rent. 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 3,890 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are close to 11 stories. Most buildings in this area were built in 1930 and are Class A.
This market is fairly equally mixed residential and commercial. Arts, entertainment, and restaurants are the dominant industries in this area. Most of the occupants 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.