The typical asking rate per listing is in the $10's per square foot per year. The Centre Business Park submarket is going through a decline in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 8% decrease in rent.
Compared to the rest of the Houston Metro market, the Centre Business Park submarket has lower rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 34 listings have been posted online, which means listings are probably going fast. You'll want to be prepared to make an offer immediately. About 100% of the available leases in the Centre Business Park are subleases, so you might be able to find a shorter term or below market rent. 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 720 sqft. Most properties in this market are close to 11 stories. Most buildings in this market were built in 1983 and are Class A.
This region is fairly equally mixed residential and commercial. Wholesale trade is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Centre Business Park occupants. Commuting between 30 and 45 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 Centre Business Park.
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