On average, listings lease in the $20's per square foot per year. The Arts District submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 13% decrease in rent.
In the last 90 days, 15 listings have come on the market, which means office spaces are probably going fast. You'll want to be prepared to make an offer immediately. About 67% of the available leases in the Arts District are subleases, so you might be able to snag a great spot on a short term. 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 2,110 sqft. Most buildings in this area are around 4 stories. Most buildings in this market were built in 1900 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Health care is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Arts District folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.