The typical asking rate per listing is in the $10's per square foot per year. The Grand Center region is experiencing a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 7% decrease in rent.
Compared to the rest of the St. Louis market, the Grand Center region has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 3 listings have been made available, which means office spaces most likley are going fast. You'll want to be prepared to make an offer immediately. About 100% of the office spaces in the Grand Center are subleases, so you might be able to sign a shorter term by taking over a previous 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.
Even though the median size is 6,500 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are around 4 stories. Most buildings in this market were built in 1921.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Grand Center residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.