On average, listings lease in the $10's per square foot per year. The Paces submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $10 per sqft per year. That's a 34% decline in rent.
Compared to the rest of the Metro Atlanta market, the Paces region has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 18 listings have been made available, which means listings most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 6% of the available leases in the Paces are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 2,850 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are close to 9 floors. Most buildings in this market were built in 1985 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this area. Most of the occupants of Paces work from home. Commuting close to 30 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 Paces.
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