On average, listings lease in the $20's per square foot per year. The Rivertown - Warehouse District region is experiencing a a boost in rates. In the last 3 months, the median rate increased $29 per sqft per year.
Compared to the rest of the Detroit market, the Rivertown - Warehouse District region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 5 listings have been posted online, which means spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 80% of the office spaces in the Rivertown - Warehouse 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 available, so finding a space for a small business might be tough.
Even though the median size is 18,420 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are close to 2 stories. Most buildings in this area were built in 1917 and are Class C.
A large portion of this market is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Rivertown - Warehouse District residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.