The typical asking rate per listing is in the $10's per square foot per year. The Central Business District region is experiencing a decrease in rates. In the last 3 months, the median rate fell $8 per sqft per year. That's a 30% decline in rent.
Compared to the rest of the Buffalo market, the Central Business District submarket has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 27 listings have come on the market, which means listings most likley are going fast. 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 22,000 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are close to 5 floors. Most buildings in this region were built in 1940 and are Class A.
Wholesale trade is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Central Business District folk. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.