The typical asking rate per listing is in the $30's per square foot per year. The Calhoun Isles submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 4% decrease in rent.
Compared to the rest of the Minneapolis market, the Calhoun Isles region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 40 listings have been posted online, which means office spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 5% of the available leases in the Calhoun Isles are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,200 sqft. Most buildings in this region are around 2 floors. Most buildings in this market were built in 1948 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Company management is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Calhoun Isles residents. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.