Most listings are in the $20's per square foot per year. The University submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 12% decline in rent.
Compared to the rest of the The Triangle market, the University submarket has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 16 listings have been made available, which means new listings most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 6% of the available space in the University are subleases, so you will probably have to consider a longer term lease. 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 1,890 sqft. Most properties in this market are around 2 stories. Most buildings in this region were built in 1965 and are Class B.
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 area. Commute by taxi is the most popular way to get to work amongst University folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.