The typical asking rate per listing is in the $40's per square foot per year. The Merritt region is experiencing a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 3% decrease in rent.
Compared to the rest of the Fairfield market, the Merritt submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 12 listings have been listed, which means spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 8% of the listings in the Merritt 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 posted, so finding a space for a small business might be tough.
Even though the median size is 12,210 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are around 7 stories. Most buildings in this region were built in 1985 and are Class A.
Wholesale trade is the dominant industry in this market. Most of the residents of Merritt work from home. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.