On average, listings lease in the $30's per square foot per year. The Cherry Creek submarket is going through a decline in rates. In the last 3 months, the median rate fell $11 per sqft per year. That's a 24% decline in rent.
Compared to the rest of the Denver Metro market, the Cherry Creek region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 16 listings have been made available, which means new listings might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 13% of the listings in the Cherry Creek 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 available, so finding a space for a small business might be tough.
Even though the median size is 3,700 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are approximately 6 floors. Most buildings in this area were built in 1982 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 area. Commute by public transit is the most popular way to get to work amongst Cherry Creek residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.