On average, listings lease in the $20's per square foot per year. The Hollywood submarket is seeing a an increase in rates. In the last 3 months, the median rate rose $24 per sqft per year.
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 submarket.
In the last 90 days, 4 listings have been posted online, which means new availabilities most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 100% of the available space in the Hollywood are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet posted, 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 buildings in this market are approximately 4 stories. Most buildings in this region 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 region. Commute by bike is the most popular way to get to work amongst Hollywood folk. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.