On average, listings lease in the $30's per square foot per year. The Arts District submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $10 per sqft per year. That's a 21% decline in rent.
In the last 90 days, 9 listings have been made available, which means listings might be 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 6,850 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are close to 2 stories. Most buildings in this market were built in 1963 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this area. Commute by bike is the most popular way to get to work amongst Arts District occupants. Commuting around an hour a day is the norm for those who opt to reside in this part of town.