Most listings are in the $20's per square foot per year. The City Center region is going through a a rise in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 3% rise in rent.
Compared to the rest of the Richmond market, the City Center submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 16 listings have come on the market, which means new 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.
Even though the median size is 4,180 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this area are approximately 3 stories. Most buildings in this region were built in 1930 and are Class C.
This market is fairly equally mixed residential and commercial. Finance and insurance are the dominant industries in this market. Commute by walking is the most popular way to get to work amongst City Center residents. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.