On average, listings lease in the $30's per square foot per year. The Pearl submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 2% decline in rent.
Compared to the rest of the Greater Portland market, the Pearl submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 3 listings have been posted online, which means listings might be going fast. You'll want to be prepared to make an offer immediately. 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 12,090 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are approximately 8 stories. Most buildings in this region were built in 1978 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this market. Commute by motorcycle is the most popular way to get to work amongst Pearl folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.