On average, listings lease in the $20's per square foot per year. The Downtown Bloomington submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 4% decrease in rent.
In the last 90 days, 6 listings have come on the market, which means new listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 570 sqft. Most properties in this area are around 2 stories. Most buildings in this market were built in 1970 and are Class Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this area. Commute by public transit is the most popular way to get to work amongst Downtown Bloomington occupants. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.