Third Ward Industrial

Third Ward

Office Space Market Report

Number of Listings (last 90 days)
7
Median Rate ($/sqft/yr)
$20
Median Size (sqft)
3,540
As of: July 22, 2017

Third Ward Rates

The typical asking rate per listing is in the $20's per square foot per year. The Third Ward submarket is going through a decrease in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 10% decrease in rent.

Third Ward Listing Supply

In the last 90 days, 7 listings have been listed, which means leases are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 171% of the office spaces in the Third Ward 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 3,540 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are around 2 floors. Most buildings in this market were built in 1997 and are Class A.

Third Ward Community

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 market. Commute by car is the most popular way to get to work amongst Third Ward residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Third Ward.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Third Ward.
Research