On average, listings lease in the $10's per square foot per year. The Orchard District submarket is experiencing a a boost in rates. In the last 3 months, the median rate increased $2 per sqft per year. That's a 9% increase in rent.
In the last 90 days, 24 listings have been posted online, which means spaces are probably going fast. You'll want to be prepared to make an offer immediately. About 13% of the available leases in the Orchard District are subleases, so you might be able to snag a great spot on a short term. 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 1,850 sqft. Most buildings in this region are approximately 2 stories. Most buildings in this market were built in 1973 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Orchard District 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 Orchard District.
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