South Portland Sublease

South Portland

Office Space Market Report

Number of Listings (last 90 days)
11
Median Rate ($/sqft/yr)
$28
Median Size (sqft)
1,630
As of: December 8, 2016

South Portland Rates

On average, listings lease in the $20's per square foot per year. The South Portland region is seeing a an increase in rates. In the last 3 months, the median rate went up $7 per sqft per year. That's a 31% rise in rent.

Compared to the rest of the Greater Portland market, the South Portland submarket has lower rates, so you should have no trouble finding a great deal in this discounted region.

South Portland Listing Supply

In the last 90 days, 10 listings have been made available, which means spaces might be going fast. You'll want to be prepared to make an offer immediately. About 20% of the available space in the South Portland are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 1,360 sqft. Most buildings in this market are approximately 3 floors. Most buildings in this area were built in 1954 and are Class B.

South Portland Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst South Portland folk. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in South Portland.
Market Report

Market Data

Real time and historical data on commercial real estate listings in South Portland.
Research