On average, listings lease in the $20's per square foot per year. The University Drive region is experiencing a an increase in rates. In the last 3 months, the median rate rose $29 per sqft per year.
Compared to the rest of the Gold Coast market, the University Drive submarket has lower rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 25 listings have been posted online, which means new listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 52% of the listings in the University Drive are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,700 sqft. Most properties in this region are around 3 floors. Most buildings in this region were built in 1988 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this market. Most of the residents of University Drive work from home. Commuting close to an hour and a half a day is the norm for those who opt to reside in this part of town.