The typical asking rate per listing is in the $10's per square foot per year. The Newell region is going through a a rise in rates. In the last 3 months, the median rate went up $3 per sqft per year. That's a 17% increase in rent.
Compared to the rest of the Metrolina market, the Newell region has smaller rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 40 listings have come on the market, which means leases most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 5% of the office spaces in the Newell 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 930 sqft. Most properties in this region are around 2 stories. Most buildings in this area were built in 1998 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Newell residents. 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 Newell.
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