On average, listings lease in the $30's per square foot per year. The Downtown Columbia submarket is seeing a decline in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 11% decline in rent.
Compared to the rest of the Greater Baltimore market, the Downtown Columbia region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 12 listings have been posted online, which means leases might be going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 5,420 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are approximately 5 stories. Most buildings in this market were built in 1980 and are Class A.
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. Most of the residents of Downtown Columbia work from home. Commuting approximately 30 minutes a day is the norm for those who opt to reside in this part of town.