On average, listings lease in the $40's per square foot per year. The Douglas submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 8% decrease in rent.
Compared to the rest of the Gold Coast market, the Douglas submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 124 listings have been posted online, so you'll want to check back regularly for new listings. About 6% of the listings in the Douglas are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,990 sqft. Most properties in this market are around 12 floors. Most buildings in this area were built in 1973 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 area. Commute by bike is the most popular way to get to work amongst Douglas occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Douglas.
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