Most listings are in the $20's per square foot per year. The Downtown Galveston region is seeing a a boost in rates. In the last 3 months, the median rate rose $1 per sqft per year. That's a 4% increase in rent.
Compared to the rest of the Houston Metro market, the Downtown Galveston submarket has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 40 listings have been posted online, which means new listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 8% of the office spaces in the Downtown Galveston are subleases, so you will probably have to consider a longer term lease. 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 1,460 sqft. Most buildings in this market are approximately 2 stories. Most buildings in this region 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. Wholesale trade is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Downtown Galveston occupants. Commuting around 20 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 Downtown Galveston.
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