Compared to the rest of the Richmond market, the Shockoe Bottom submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 34 listings have been posted online, which means office spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 15% of the available leases in the Shockoe Bottom are subleases, so you might be able to find a shorter term or below market rent. 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 2,500 sqft. Most buildings in this area are close to 3 stories. Most buildings in this region were built in 1915 and are Class B.
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 public transit is the most popular way to get to work amongst Shockoe Bottom folk. Commuting approximately 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 Shockoe Bottom.
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