On average, listings lease in the $20's per square foot per year. The Cherry Creek North submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $10 per sqft per year. That's a 26% decline in rent.
Compared to the rest of the Denver Metro market, the Cherry Creek North region has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 11 listings have been listed, which means new listings most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 91% of the available leases in the Cherry Creek North are subleases, so you might be able to snag a great spot on a short term. 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 1,450 sqft. Most buildings in this area are approximately 8 floors. Most buildings in this area were built in 1999 and are Class A.
Arts, entertainment, and restaurants are the dominant industries in this market. Commute by walking is the most popular way to get to work amongst Cherry Creek North occupants. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.