The typical asking rate per listing is in the $30's per square foot per year. The Downtown Durham region is seeing a a boost in rates. In the last 3 months, the median rate increased $15 per sqft per year. That's a 85% increase in rent.
Compared to the rest of the The Triangle market, the Downtown Durham submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 19 listings have been listed, which means new listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 5% of the available leases in the Downtown Durham are subleases, so you will probably have to focus your search on direct office leases. 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 620 sqft. Most properties in this region are approximately 7 floors. Most buildings in this market were built in 1926 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Real estate is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Downtown Durham occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.