The typical asking rate per listing is in the $40's per square foot per year. The Merritt region is seeing a a rise in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 1% increase in rent.
Compared to the rest of the Fairfield market, the Merritt region has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 12 listings have come on the market, which means leases most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 325% of the listings in the Merritt 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 12,210 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this region are around 7 stories. Most buildings in this region were built in 1985 and are Class A.
Wholesale trade is the dominant industry in this market. Most of the folk 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.