On average, listings lease in the $20's per square foot per year. The Downtown Troy submarket is seeing a a rise in rates. In the last 3 months, the median rate rose $3 per sqft per year. That's a 15% increase in rent.
Compared to the rest of the Metro Detroit market, the Downtown Troy submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 83 listings have been posted online, so you'll want to check back regularly for new listings. About 4% of the available leases in the Downtown Troy 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 2,760 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are close to 3 floors. Most buildings in this area were built in 1985 and are Class B.
Arts, entertainment, and restaurants are the dominant industries in this region. Most of the occupants of Downtown Troy work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.