Downtown Cleveland Office Space

Downtown Cleveland

Office Space Market Report

Number of Listings (last 90 days)
785
Median Rate ($/sqft/yr)
$24
Median Size (sqft)
5,190
As of: August 17, 2017

Downtown Cleveland Rates

Most listings are in the $20's per square foot per year. The Downtown Cleveland region is going through a decline in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 18% decline in rent.

Compared to the rest of the Cleveland market, the Downtown Cleveland region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.

Downtown Cleveland Listing Supply

In the last 90 days, 44 listings have been made available, so you'll want to check back regularly for new listings. About 127% of the available leases in the Downtown Cleveland are subleases, so you might be able to find a shorter term or below market rent. 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 5,360 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this area are close to 8 floors. Most buildings in this market were built in 1930 and are Class B.

Downtown Cleveland Community

This area is fairly equally mixed residential and commercial. Real estate is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Downtown Cleveland occupants. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Downtown Cleveland.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Downtown Cleveland.
Research