The typical asking rate per listing is in the $20's per square foot per year. The University region is seeing a an increase in rates. In the last 3 months, the median rate rose $5 per sqft per year. That's a 18% rise in rent.
Compared to the rest of the The Triangle market, the University region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 122 listings have been posted online, so you'll want to check back regularly for new listings. About 7% of the available leases in the University are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 2,110 sqft. Most properties in this region are close to 2 stories. Most buildings in this market were built in 1965 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this region. Commute by taxi is the most popular way to get to work amongst University residents. Commuting under 5 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 University.
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