On average, listings lease in the $20's per square foot per year. The Progresso Village 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 27% decline in rent.
Compared to the rest of the Gold Coast market, the Progresso Village region has smaller rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 0 listings have come on the market, which means leases are probably leasing quickly. You'll want to be prepared to make an offer immediately. About Inf% of the office spaces in the Progresso Village 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 on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,000 sqft. Most properties in this region are close to 2 stories. Most buildings in this market were built in 1975 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Progresso Village occupants. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.