Most listings are in the $10's per square foot per year. The Orchard District submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 13% decrease in rent.
In the last 90 days, 24 listings have come on the market, which means listings most likley are going fast. You'll want to be prepared to make an offer immediately. About 8% of the available leases in the Orchard District 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.
The standard measurement for office space in this area is around 1,630 sqft. Most buildings in this area are close to 2 stories. Most buildings in this market were built in 1975 and are Class B.
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 region. Commute by public transit is the most popular way to get to work amongst Orchard District folk. Commuting more than 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 Orchard District.
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