On average, listings lease in the $40's per square foot per year. The University Place region is experiencing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 1% decline in rent.
Compared to the rest of the Houston Metro market, the University Place region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 19 listings have been listed, which means spaces 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.
The standard measurement for office space in this area is around 1,365 sqft. Most properties in this area are approximately 2 floors. Most buildings in this market were built in 1955 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this region. Commute by motorcycle is the most popular way to get to work amongst University Place occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.