On average, listings lease in the $20's per square foot per year. The Central Office submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $13 per sqft per year. That's a 37% decrease in rent.
Compared to the rest of the Richmond market, the Central Office region has smaller rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 1 listings have been listed, which means leases are probably leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,500 sqft. Most buildings in this region are around 18 stories. Most buildings in this region were built in 1973 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 occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.