On average, listings lease in the $20's per square foot per year. The Central Business District submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 3% decrease in rent.
Compared to the rest of the Greater New Orleans Region market, the Central Business District submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 41 listings have been posted online, so you'll want to check back regularly for new listings. About 2% of the office spaces in the Central Business District are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 3,430 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are close to 5 stories. Most buildings in this market were built in 0 and are Class A.
This market is fairly equally mixed residential and commercial. Utilities is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Central Business District residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.