On average, listings lease in the $30's per square foot per year. The Memorial submarket is experiencing a a rise in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 2% rise in rent.
Compared to the rest of the Houston Metro market, the Memorial region has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 219 listings have been posted online, so you'll want to check back regularly for new listings. About 11% of the available space in the Memorial are subleases, so you might be able to snag a great spot on a short term. 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 5,560 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are close to 7 floors. Most buildings in this region were built in 1982 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this market. Commute by taxi is the most popular way to get to work amongst Memorial occupants. Commuting around an hour 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 Memorial.
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