On average, listings lease in the $20's per square foot per year. The North Downtown region is seeing a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 5% decline in rent.
In the last 90 days, 12 listings have been made available, which means new listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 8% of the available leases in the North Downtown are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 3,230 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this area are around 12 floors. Most buildings in this market were built in 1927 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst North Downtown occupants. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.