Compared to the rest of the Greater Portland market, the Hollywood region has lower rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 4 listings have been made available, which means leases most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 100% of the available space in the Hollywood 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.
The standard measurement for office space in this area is around 550 sqft. Most properties in this market are close to 4 stories. Most buildings in this area were built in 1928.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Hollywood residents. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.