The typical asking rate per listing is in the $20's per square foot per year. The Chapel Hill submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $14 per sqft per year. That's a 35% decline in rent.
Compared to the rest of the The Triangle market, the Chapel Hill submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 180 listings have been posted online, so you'll want to check back regularly for new listings. About 4% of the available space in the Chapel Hill 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 3,000 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this area are approximately 3 stories. Most buildings in this market were built in 2001 and are Class A.
Real time and historical data on commercial real estate listings in Chapel Hill.
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