On average, listings lease in the $40's per square foot per year. The Palms submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 8% decrease in rent.
In the last 90 days, 9 listings have been made available, which means new availabilities are probably leasing quickly. 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.
The standard measurement for office space in this area is around 1,500 sqft. Most properties in this area are around 2 floors. Most buildings in this region were built in 1980 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Palms occupants. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.