Most listings are in the $30's per square foot per year. The Downtown Chapel Hill region is going through a a rise in rates. In the last 3 months, the median rate went up $39 per sqft per year.
Compared to the rest of the The Triangle market, the Downtown Chapel Hill region has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 32 listings have been listed, which means leases are probably going fast. You'll want to be prepared to make an offer immediately. About 3% of the available space in the Downtown Chapel Hill are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 210 sqft. Most properties in this area are approximately 9 stories. Most buildings in this region were built in 2008 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this area. Commute by motorcycle is the most popular way to get to work amongst Downtown Chapel Hill folk. 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 Downtown Chapel Hill.
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