On average, listings lease in the $20's per square foot per year. The Downtown Jacksonville submarket is experiencing a an increase in rates. In the last 3 months, the median rate went up $2 per sqft per year. That's a 7% increase in rent.
Compared to the rest of the Jacksonville market, the Downtown Jacksonville region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 31 listings have come on the market, which means listings most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 84% of the available space in the Downtown Jacksonville 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,960 sqft. Most buildings in this region are around 4 stories. Most buildings in this region were built in 1927 and are Class B.
This area is fairly equally mixed residential and commercial. Construction is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Downtown Jacksonville residents. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.