On average, listings lease in the $40's per square foot per year. The Crafts submarket is seeing a a rise in rates. In the last 3 months, the median rate went up $45 per sqft per year.
Compared to the rest of the Gold Coast market, the Crafts submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 18 listings have come on the market, which means office spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 39% of the office spaces in the Crafts are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 820 sqft. Most buildings in this region are around 3 floors. Most buildings in this area were built in 1964 and are Class B.
This region is fairly equally mixed residential and commercial. Education is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Crafts residents. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.