The typical asking rate per listing is in the $20's per square foot per year. The Newell submarket is going through a an increase in rates. In the last 3 months, the median rate went up $3 per sqft per year. That's a 14% increase in rent.
Compared to the rest of the Metrolina market, the Newell submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 40 listings have been listed, which means new listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 10% of the available space in the Newell 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.
The standard measurement for office space in this area is around 1,500 sqft. Most properties in this region are approximately 2 floors. Most buildings in this area were built in 1998 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Newell residents. Commuting more than an hour and a half 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 Newell.
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