On average, listings lease in the $20's per square foot per year. The Arts District submarket is seeing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 4% decline in rent.
In the last 90 days, 11 listings have been made available, which means new listings might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 18% of the office spaces in the Arts District 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.
Even though the median size is 3,500 sqft, there are still 0 leases below 2,000 sqft. Most properties in this market are close to 4 floors. Most buildings in this area were built in 1900 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Health care is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Arts District folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.