The typical asking rate per listing is in the $20's per square foot per year. The Ellicott region is experiencing a an increase in rates. In the last 3 months, the median rate went up $10 per sqft per year. That's a 63% rise in rent.
Compared to the rest of the Buffalo market, the Ellicott submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 2 listings have been posted online, which means listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 150% of the office spaces in the Ellicott are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 45,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are around 3 stories. Most buildings in this area were built in 1926 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Ellicott occupants. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.