On average, listings lease in the $40's per square foot per year. The Pearl region is seeing a a boost in rates. In the last 3 months, the median rate increased $6 per sqft per year. That's a 16% increase 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 come on the market, which means spaces most likley are going fast. You'll want to be prepared to make an offer immediately. About 300% of the listings in the Pearl 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 available, so finding a space for a small business might be tough.
Even though the median size is 9,280 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are close to 6 stories. Most buildings in this area were built in 1947 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 region. Commute by motorcycle is the most popular way to get to work amongst Pearl occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.