On average, listings lease in the $10's per square foot per year. The Sandalwood submarket is going through a a rise in rates. In the last 3 months, the median rate went up $20 per sqft per year.
Compared to the rest of the Jacksonville market, the Sandalwood submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 24 listings have come on the market, which means new availabilities might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 4% of the available leases in the Sandalwood are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 7,000 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market were built in 1999 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this area. Commute by car is the most popular way to get to work amongst Sandalwood occupants. Commuting around 15 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 Sandalwood.
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