On average, listings lease in the $10's per square foot per year. The Riverside region is going through a decrease in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 12% decrease in rent.
Compared to the rest of the Cleveland market, the Riverside submarket has less expensive rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 13 listings have come on the market, which means new availabilities are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 8% of the office spaces in the Riverside 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 posted, so finding a space for a small business might be tough.
Even though the median size is 17,570 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this region are close to 1 stories. Most buildings in this market were built in 1998 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this market. Commute by taxi is the most popular way to get to work amongst Riverside residents. Commuting around an hour and a half 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 Riverside.
Get email notifications when new listings are posted that match your requirements.