The typical asking rate per listing is in the $30's per square foot per year. The Central Office submarket is seeing a an increase in rates. In the last 3 months, the median rate rose $2 per sqft per year. That's a 6% rise in rent.
Compared to the rest of the Richmond market, the Central Office region has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 4 listings have come on the market, which means listings are probably 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,440 sqft. Most properties in this market are around 21 floors. Most buildings in this area were built in 1984 and are Class A.
Education is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Central Office folk. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.