On average, listings lease in the $20's per square foot per year. The Downtown Galveston submarket is going through a a boost in rates. In the last 3 months, the median rate rose $23 per sqft per year.
Compared to the rest of the Houston Metro market, the Downtown Galveston submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 15 listings have been listed, which means new availabilities most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 27% of the available leases in the Downtown Galveston are subleases, so you might be able to sign a shorter term by taking over a previous 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 1,530 sqft. Most buildings in this region are approximately 2 stories. Most buildings in this market were built in 1973 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Downtown Galveston residents. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.