On average, listings lease in the $30's per square foot per year. The Pearl submarket is experiencing a a boost in rates. In the last 3 months, the median rate went up $3 per sqft per year. That's a 10% rise in rent.
Compared to the rest of the Greater Portland market, the Pearl submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 3 listings have been made available, which means office spaces might be going fast. You'll want to be prepared to make an offer immediately. About 267% of the office spaces in the Pearl 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.
Even though the median size is 10,700 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this market are close to 6 floors. Most buildings in this region were built in 1939 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 folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.