On average, listings lease in the $40's per square foot per year. The University Park - South Downtown submarket is seeing a an increase in rates. In the last 3 months, the median rate increased $41 per sqft per year.
In the last 90 days, 26 listings have been made available, which means new availabilities might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 108% of the office spaces in the University Park - South Downtown 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.
Even though the median size is 5,630 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this market are close to 5 stories. Most buildings in this region were built in 1953 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this area. Commute by car is the most popular way to get to work amongst University Park - South Downtown folk. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.