The typical asking rate per listing is in the $30's per square foot per year. The Downtown Cleveland region is going through a an increase in rates. In the last 3 months, the median rate rose $12 per sqft per year. That's a 50% increase in rent.
Compared to the rest of the Cleveland market, the Downtown Cleveland region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 44 listings have been posted online, so you'll want to check back regularly for new listings. About 5% of the available leases in the Downtown Cleveland are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 15,760 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are approximately 8 stories. Most buildings in this area were built in 1963 and are Class B.
This area is fairly equally mixed residential and commercial. Real estate is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Downtown Cleveland residents. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.