On average, listings lease in the $20's per square foot per year. The Downtown Springfield region is going through a decline in rates. In the last 3 months, the median rate fell $7 per sqft per year. That's a 22% decline in rent.
In the last 90 days, 14 listings have been made available, which means office spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 500 sqft. Most buildings in this region are approximately 3 stories. Most buildings in this region were built in 1914 and are Class A.
This market 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 folk. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.