On average, listings lease in the $20's per square foot per year. The Prestonwood submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 5% decrease in rent.
Compared to the rest of the DFW Metroplex market, the Prestonwood submarket has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 10 listings have been posted online, which means leases are probably going fast. You'll want to be prepared to make an offer immediately. About 20% of the available space in the Prestonwood 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.
The standard measurement for office space in this area is around 1,480 sqft. Most properties in this market are around 3 stories. Most buildings in this area were built in 1985 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Prestonwood occupants. Commuting approximately 10 minutes a day is the norm for those who opt to reside in this part of town.