On average, listings lease in the $10's per square foot per year. The Hampton Roads Center submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 12% decline in rent.
In the last 90 days, 7 listings have been listed, which means leases most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. 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 15,470 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this area are close to 1 floors. Most buildings in this area were built in 1990 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 market. Most of the folk of Hampton Roads Center work from home. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.