On average, listings lease in the $40's per square foot per year. The Merritt submarket is experiencing a a boost in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 1% increase in rent.
Compared to the rest of the Fairfield market, the Merritt region has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 12 listings have been posted online, which means listings are probably going fast. You'll want to be prepared to make an offer immediately. About 325% of the office spaces in the Merritt 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 available, 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 listings below 2,000 sqft. Most buildings in this area are close to 7 floors. Most buildings in this area were built in 1985 and are Class A.
Wholesale trade is the dominant industry in this area. Most of the residents of Merritt work from home. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.