The typical asking rate per listing is in the $50's per square foot per year. The City Center region is seeing a a rise in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 1% rise in rent.
Compared to the rest of the Gold Coast market, the City Center region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 167 listings have been listed, so you'll want to check back regularly for new listings. About 5% of the office spaces in the City Center 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 1,780 sqft. Most properties in this area are approximately 5 stories. Most buildings in this market were built in 1959 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst City Center occupants. Commuting between 30 and 45 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 City Center.
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