On average, listings lease in the $20's per square foot per year. The Highway Park region is seeing a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 10% decline in rent.
Compared to the rest of the Greater New Orleans Region market, the Highway Park submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 5 listings have been listed, which means office spaces are probably going fast. You'll want to be prepared to make an offer immediately. About 20% of the available space in the Highway Park 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 3,080 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this region are approximately 2 floors. Most buildings in this area were built in 0 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this region. Commute by car is the most popular way to get to work amongst Highway Park folk. Commuting approximately 10 minutes a day is the norm for those who opt to reside in this part of town.