On average, listings lease in the $30's per square foot per year. The Northwest District region is going through a a rise in rates. In the last 3 months, the median rate rose $11 per sqft per year. That's a 57% increase in rent.
Compared to the rest of the Greater Portland market, the Northwest District submarket has less expensive rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 9 listings have been posted online, which means spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 11% of the office spaces in the Northwest District 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 16,100 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are approximately 3 stories. Most buildings in this region were built in 1963 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 area. Most of the residents of Northwest District work from home. Commuting around 10 minutes a day is the norm for those who opt to reside in this part of town.