The typical asking rate per listing is in the $20's per square foot per year. The Central Area submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 8% decrease in rent.
In the last 90 days, 40 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 13% of the office spaces in the Central Area 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 available, so finding a space for a small business might be tough.
Even though the median size is 2,600 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are around 3 stories. Most buildings in this region were built in 1964 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this region. Most of the residents of Central Area work from home. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.