On average, listings lease in the $20's per square foot per year. The Waterfront submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $14 per sqft per year. That's a 34% decline in rent.
In the last 90 days, 9 listings have been posted online, which means office spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 33% of the available leases in the Waterfront are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 4,260 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are close to 3 stories. Most buildings in this region were built in 1926 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Waterfront occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.