On average, listings lease in the $50's per square foot per year. The Crafts region is experiencing a a rise in rates. In the last 3 months, the median rate rose $3 per sqft per year. That's a 6% increase in rent.
Compared to the rest of the Gold Coast market, the Crafts region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 18 listings have come on the market, which means new listings most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 56% of the office spaces in the Crafts 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 1,720 sqft. Most buildings in this region are around 3 floors. Most buildings in this area were built in 1964 and are Class A.
This area is fairly equally mixed residential and commercial. Education is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Crafts residents. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.