The typical asking rate per listing is in the $10's per square foot per year. The Industrial Valley region is experiencing a a rise in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 3% rise in rent.
Compared to the rest of the Cleveland market, the Industrial Valley region has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 26 listings have been posted online, which means spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 4% of the available leases in the Industrial Valley are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 540 sqft. Most buildings in this market were built in 1921.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Industrial Valley residents. Commuting approximately 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 Industrial Valley.
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