Most listings are in the $30's per square foot per year. The Gaslamp submarket is seeing a decline in rates. In the last 3 months, the median rate fell $8 per sqft per year. That's a 19% decline in rent.
Compared to the rest of the San Diego market, the Gaslamp region has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 40 listings have been listed, which means spaces might be going fast. You'll want to be prepared to make an offer immediately. About 3% of the office spaces in the Gaslamp 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 3,500 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are close to 3 stories. Most buildings in this market were built in 1911 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this area. Commute by motorcycle is the most popular way to get to work amongst Gaslamp occupants. Commuting around 10 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 Gaslamp.
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