On average, listings lease in the $20's per square foot per year. The Multnomah region is going through a a boost in rates. In the last 3 months, the median rate rose $23 per sqft per year.
Compared to the rest of the Greater Portland market, the Multnomah submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 10 listings have been posted online, which means spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 90% of the available leases in the Multnomah 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,200 sqft. Most properties in this market are approximately 3 floors. Most buildings in this market were built in 1983 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Multnomah folk. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.