On average, listings lease in the $30's per square foot per year. The Rio Grande submarket is seeing a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 2% decline in rent.
Compared to the rest of the Salt Lake City market, the Rio Grande region has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 29 listings have come on the market, which means office spaces most likley are going fast. You'll want to be prepared to make an offer immediately. About 17% of the available leases in the Rio Grande are subleases, so you might be able to snag a great spot on a short term. 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 7,670 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are approximately 7 floors. Most buildings in this region were built in 1951 and are Class B.
Information is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Rio Grande occupants. Commuting approximately 30 minutes a day is the norm for those who opt to reside in this part of town.