The typical asking rate per listing is in the $10's per square foot per year. The Southern region is going through a an increase in rates. In the last 3 months, the median rate went up $3 per sqft per year. That's a 17% rise in rent.
In the last 90 days, 20 listings have been listed, which means new availabilities are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 5% of the available space in the Southern 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 10,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are close to 2 stories. Most buildings in this region were built in 1986 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this region. Most of the residents of Southern work from home. Commuting close to 10 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 Southern.
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