On average, listings lease in the $30's per square foot per year. The City Center 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 3% increase in rent.
Compared to the rest of the The Triangle market, the City Center submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 12 listings have been listed, which means office spaces most likley are going fast. You'll want to be prepared to make an offer immediately. 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 600 sqft. Most buildings in this region are around 7 floors. Most buildings in this market were built in 1973 and are Class A.
Wholesale trade is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst City Center occupants. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.