Most listings are in the $40's per square foot per year. The Merritt region is seeing a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 3% decrease in rent.
Compared to the rest of the Fairfield market, the Merritt region has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 12 listings have been listed, which means office spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 8% of the available leases in the Merritt are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 12,210 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are close to 7 floors. Most buildings in this market were built in 1985 and are Class A.
Wholesale trade is the dominant industry in this region. Most of the residents of Merritt work from home. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.