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Most commerial real estate listings for lease are in the $20's per square foot per year. The Downtown Cleveland region is seeing a a boost in rates. In the last 3 months, the median rate for lease rose $5 per sqft per year. That's a 19% rise in rent.
Compared to the rest of the Cleveland commercial real estate market, the Downtown Cleveland region has more expensive rates for rent, and you may need to make a great offer to be in this hot region.
In the last 90 days, 785 commercial real estate listings have been posted online, so you'll want to check back regularly for new listings. About 0% of the available commercial real estate leases in the Downtown Cleveland 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 available, so finding a space for a small business might be tough.
The standard size for office space in this area is around 640 sqft. Most properties in this area are close to 8 stories. Most buildings in this region were built approximately 1926 and are Class B.
This market is fairly equally mixed residential and commercial. Real estate is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Downtown Cleveland residents. Commuting close to 20 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 Cleveland.
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