On average, listings lease in the $30's per square foot per year. The Hillcrest submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 8% decline in rent.
Compared to the rest of the San Diego market, the Hillcrest submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 11 listings have been listed, which means office spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. 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 2,600 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this area are around 2 floors. Most buildings in this market were built in 1991 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this region. Commute by motorcycle is the most popular way to get to work amongst Hillcrest occupants. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.