The typical asking rate per listing is in the $20's per square foot per year. The First Ward region is seeing a a boost in rates. In the last 3 months, the median rate increased $3 per sqft per year. That's a 16% increase in rent.
In the last 90 days, 16 listings have come on the market, which means leases might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 63% of the office spaces in the First Ward are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,840 sqft. Most properties in this area are approximately 2 stories. Most buildings in this region were built in 1975 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst First Ward occupants. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.