On average, listings lease in the $30's per square foot per year. The Peninsula Corporate Center submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 3% decline in rent.
Compared to the rest of the Gold Coast market, the Peninsula Corporate Center submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 3 listings have been made available, which means leases are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 67% of the listings in the Peninsula Corporate Center 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 on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,450 sqft. Most buildings in this market are close to 3 stories.
This area is fairly equally mixed residential and commercial. Wholesale trade is the dominant industry in this area. Most of the residents of Peninsula Corporate Center work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.