On average, listings lease in the $10's per square foot per year. The Getty Square region is seeing a decrease in rates. In the last 3 months, the median rate fell $13 per sqft per year. That's a 40% decline in rent.
In the last 90 days, 11 listings have come on the market, which means new availabilities most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 73% of the listings in the Getty Square are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 4,000 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this region are close to 4 stories. Most buildings in this market were built in 1989 and are Class B.
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. Commute by walking is the most popular way to get to work amongst Getty Square occupants. Commuting between 20 and 25 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 Getty Square.
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