On average, listings lease in the $20's per square foot per year. The Downtown Springfield submarket is seeing a a rise in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 5% rise in rent.
In the last 90 days, 28 listings have been posted online, which means office spaces most likley are going fast. You'll want to be prepared to make an offer immediately. About 4% of the available leases in the Downtown Springfield are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,700 sqft. Most buildings in this market are around 3 floors. Most buildings in this region were built in 1914 and are Class A.
This area is fairly equally mixed residential and commercial. Public administration is the dominant industry in this area. Commute by motorcycle is the most popular way to get to work amongst Downtown Springfield occupants. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.