On average, listings lease in the $20's per square foot per year. The Progresso Village submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $7 per sqft per year. That's a 19% decline in rent.
Compared to the rest of the Gold Coast market, the Progresso Village region has lower rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 0 listings have been listed, which means leases are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About Inf% of the office spaces in the Progresso Village are subleases, so you might be able to find a shorter term or below market rent. 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 1,000 sqft. Most buildings in this market are close to 2 stories. Most buildings in this market were built in 1975 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Progresso Village residents. Commuting around 15 minutes a day is the norm for those who opt to reside in this part of town.