On average, listings lease in the $20's per square foot per year. The Downtown Wilmington submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 17% decline in rent.
In the last 90 days, 18 listings have been listed, which means new listings most likley are leasing quickly. 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.
Even though the median size is 3,830 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are approximately 2 stories. Most buildings in this market were built in 1957 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Downtown Wilmington occupants. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.