The typical asking rate per listing is in the $30's per square foot per year. The Downtown Vancouver region is experiencing a an increase in rates. In the last 3 months, the median rate increased $7 per sqft per year. That's a 23% rise in rent.
Compared to the rest of the Greater Portland market, the Downtown Vancouver region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 9 listings have been listed, which means listings are probably going fast. You'll want to be prepared to make an offer immediately. 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 5,480 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are close to 2 stories. Most buildings in this market were built in 1980 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Downtown Vancouver residents. Commuting around an hour a day is the norm for those who opt to reside in this part of town.