On average, listings lease in the $10's per square foot per year. The Seventy-First submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $0 per sqft per year. That's a 1% decrease in rent.
In the last 90 days, 2 listings have been made available, which means spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. About 100% of the listings in the Seventy-First 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.
The standard measurement for office space in this area is around 1,600 sqft. Most properties in this area are close to 2 stories. Most buildings in this market were built in 1990 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this market. Commute by motorcycle is the most popular way to get to work amongst Seventy-First residents. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.