On average, listings lease in the $20's per square foot per year. The Highway Park submarket is seeing a an increase in rates. In the last 3 months, the median rate rose $1 per sqft per year. That's a 3% increase in rent.
Compared to the rest of the Greater New Orleans Region market, the Highway Park region has lower rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 5 listings have come on the market, which means new availabilities are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 140% of the office spaces in the Highway Park are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 2,400 sqft. Most properties in this area are approximately 2 stories. Most buildings in this area were built in 0 and are 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 car is the most popular way to get to work amongst Highway Park residents. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.