The typical asking rate per listing is in the $10's per square foot per year. The Southfield Downtown submarket is experiencing a an increase 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 Metro Detroit market, the Southfield Downtown region has less expensive rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 269 listings have been posted online, so you'll want to check back regularly for new listings. About 2% of the available leases in the Southfield Downtown 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 580 sqft. Most properties in this region are close to 12 floors. 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. Utilities is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Southfield Downtown occupants. Commuting around 30 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 Southfield Downtown.
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