The typical asking rate per listing is in the $30's per square foot per year. The City Center submarket is seeing a an increase in rates. In the last 3 months, the median rate increased $18 per sqft per year. That's a 104% increase in rent.
Compared to the rest of the The Triangle market, the City Center submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 7 listings have been posted online, which means listings most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 114% of the available space in the City Center are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 3,500 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are approximately 7 floors. Most buildings in this market were built in 1973 and are Class A.
Wholesale trade is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst City Center residents. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.