On average, listings lease in the $30's per square foot per year. The Downtown Salt Lake City region is experiencing a an increase in rates. In the last 3 months, the median rate rose $1 per sqft per year. That's a 2% rise in rent.
Compared to the rest of the Salt Lake City market, the Downtown Salt Lake City submarket has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 111 listings have been posted online, so you'll want to check back regularly for new listings. About 68% of the available space in the Downtown Salt Lake City are subleases, so you might be able to find a shorter term or below market rent. 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 1,590 sqft. Most buildings in this region are around 6 stories. Most buildings in this market were built in 1975 and are Class B.
A large portion of this market is residential, but there's plenty of office_space. Health care is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Downtown Salt Lake City residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.