On average, listings lease in the $20's per square foot per year. The University Drive submarket is experiencing a a boost in rates. In the last 3 months, the median rate increased $7 per sqft per year. That's a 33% rise in rent.
Compared to the rest of the Gold Coast market, the University Drive submarket has smaller rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 25 listings have been made available, which means leases might be leasing quickly. You'll want to be prepared to make an offer immediately. 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 2,050 sqft. Most buildings in this area are close to 3 floors. Most buildings in this market were built in 1988 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this area. Most of the folk of University Drive work from home. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.