On average, listings lease in the $30's per square foot per year. The Downtown Chapel Hill region is seeing a a boost in rates. In the last 3 months, the median rate went up $39 per sqft per year.
Compared to the rest of the The Triangle market, the Downtown Chapel Hill submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 32 listings have been made available, which means new listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 6% of the available leases in the Downtown Chapel Hill are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 210 sqft. Most properties in this area are close to 9 floors. Most buildings in this market were built in 2008 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Professional services is the dominant industry in this area. Commute by motorcycle is the most popular way to get to work amongst Downtown Chapel Hill residents. 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 Downtown Chapel Hill.
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