On average, listings lease in the $30's per square foot per year. The Downtown Portland submarket is seeing a a boost in rates. In the last 3 months, the median rate went up $2 per sqft per year. That's a 6% increase in rent.
Compared to the rest of the Greater Portland market, the Downtown Portland region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 74 listings have been made available, so you'll want to check back regularly for new listings. About 7% of the listings in the Downtown Portland are subleases, so you will probably have to consider a longer term 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 2,650 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are close to 11 floors. Most buildings in this region were built in 1948 and are Class A.
This market is fairly equally mixed residential and commercial. Arts, entertainment, and restaurants are the dominant industries in this region. Most of the occupants of Downtown Portland work from home. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.