On average, listings lease in the $40's per square foot per year. The Downtown Birmingham submarket is seeing a a boost in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 2% increase in rent.
Compared to the rest of the Metro Detroit market, the Downtown Birmingham region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 11 listings have been listed, which means spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 3,030 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market are approximately 3 floors. Most buildings in this area were built in 1970 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 market. Commute by car is the most popular way to get to work amongst Downtown Birmingham occupants. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.