Most listings are in the $40's per square foot per year. The Downtown Chapel Hill submarket is experiencing a a boost in rates. In the last 3 months, the median rate rose $16 per sqft per year. That's a 56% increase in rent.
Compared to the rest of the The Triangle market, the Downtown Chapel Hill submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 3 listings have been made available, which means office spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. 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 10,000 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this market are around 9 stories. Most buildings in this region were built in 2008 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this area. Commute by motorcycle is the most popular way to get to work amongst Downtown Chapel Hill folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.