Most listings are in the $30's per square foot per year. The Sommerset West - Elmonica South region is going through a a boost in rates. In the last 3 months, the median rate went up $7 per sqft per year. That's a 25% rise in rent.
Compared to the rest of the Greater Portland market, the Sommerset West - Elmonica South region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 8 listings have come on the market, which means new availabilities are probably leasing quickly. You'll want to be prepared to make an offer immediately. 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 22,600 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are around 2 floors. Most buildings in this area were built in 1999 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this market. Commute by taxi is the most popular way to get to work amongst Sommerset West - Elmonica South folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.