On average, listings lease in the $20's per square foot per year. The Lower State submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $16 per sqft per year. That's a 36% decrease in rent.
In the last 90 days, 8 listings have been made available, which means spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 38% of the available leases in the Lower State are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 4,260 sqft, there are still 0 leases below 2,000 sqft. Most properties in this market are close to 3 floors. Most buildings in this market were built in 1926 and are Class A.
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 area. Most of the folk of Lower State work from home. Commuting approximately an hour and a half a day is the norm for those who opt to reside in this part of town.