Highlights
- The average rent for office space in Portland is $23.03 per square foot, 1.18% higher compared to the previous year.
- The market’s vacancy rate stands at 14.35%, lower than the state average of Maine, which is 22.40%.
- Renting Class A/A+ office space here costs $25.45 per square foot, while Class B averages $20.35 and Class C stands at $18.95.
2025 Office Space Rent & Sales
- $23.03 2025 Avg. Asking Rent
- 1.18% Y-o-Y Avg. Asking Rent Change
- 14.35% 2025 Office Vacancy Rate
What is the average asking rent price for office space in Portland?
Average asking rents for office space here stand at $23.03 per square foot. The local office market recorded an average vacancy rate of 14.35% in 2025, unchanged from 14.35% in 2024.
Portland, ME Office Asking Rents by Class
What is the average office rent per square foot by property class in Portland?
- Avg. Asking Rent Class A & A+$25.45
- Avg. Asking Rent Class B$20.35
- Avg. Asking Rent Class C$18.95
The average asking rent for Class A and A+ office space stood at $25.45 per square foot, indicating the best — and most expensive — that the market has to offer.
Class B space in Portland averaged $20.35 per square foot, while the average for Class C space was $18.95 per square foot.
What is the average office rent per square foot by property class in ME?
- Avg. Asking Rent Class A & A+$23.96
- Avg. Asking Rent Class B$18.13
- Avg. Asking Rent Class C$13.68
For comparison, the average rent for Class A and A+ office space in Maine was $23.96 per square foot. The state-wide average for Class B space was $18.13 per square foot, and Class C office spaces averaged $13.68 per square foot.
Portland, ME Office Indicators by Submarket
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Portland - Bayside | $28.00 | 10.23% |
| Portland - Downtown | $23.91 | 12.31% |
| Portland - West | $17.60 | 12.38% |
Office Construction in Portland, ME
What are the largest recent office completions in Portland?
The largest recent office completion here is Premier Suburban Office Building at 292,322 square feet, completed in 1970. The next largest completions are 100 Middle St and 84 Marginal Way.
| Office building | Address | SF | Completed |
|---|---|---|---|
| 84 Marginal Way | 84 Marginal Way, 04101 | 107,000 | 2008 |
| 891 Washington Avenue | 891 Washington Avenue, 04101 | 27,600 | 2001 |
| Dental/Medical Suite #4 | 94 Washington Avenue, 04101 | 15,036 | 2001 |
| 100 Middle St | 100 Middle St, 04101 | 195,000 | 1987 |
| Office Space | 295 Forest Ave, 04101 | 92,122 | 1984 |
| Class A Office Space | 130 Middle St, 04101 | 35,019 | 1982 |
| 130 Middle Street | 130 Middle Street, 04101 | 32,000 | 1982 |
| 901 Washington Avenue | 901 Washington Avenue, 04101 | 38,301 | 1971 |
| Premier Suburban Office Building | 2211 Congress Street, 04102 | 292,322 | 1970 |
| Waterfront Office Space | 41 Union Wharf, 04101 | 2,384 | 1945 |
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Disclaimer
All information on this page is based on city-level data that includes properties equal to or larger than 25,000 square feet.
Averages were calculated based on values dated between January 1st and December 31st 2025. Construction pipeline data represented herein is valid as of January 2026.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor Yardi Research Data can guarantee that the information provided is complete.