Downtown Springfield Office Space

Downtown Springfield

Office Space Market Report

Number of Listings (last 90 days)
25
Median Rate ($/sqft/yr)
$27
Median Size (sqft)
650
As of: December 9, 2016

Downtown Springfield Rates

The typical asking rate per listing is in the $20's per square foot per year. The Downtown Springfield submarket is experiencing a a boost in rates. In the last 3 months, the median rate rose $1 per sqft per year. That's a 3% increase in rent.

Downtown Springfield Listing Supply

In the last 90 days, 25 listings have been made available, which means spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 4% of the available leases in the Downtown Springfield 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 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 650 sqft. Most properties in this region are around 8 floors. Most buildings in this market were built in 1938 and are Class A.

Downtown Springfield Community

This area is fairly equally mixed residential and commercial. Public administration is the dominant industry in this region. Commute by motorcycle is the most popular way to get to work amongst Downtown Springfield occupants. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Downtown Springfield.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Downtown Springfield.
Research