Most listings are in the $20's per square foot per year. The Memorial region is seeing a decline in rates. In the last 3 months, the median rate fell $17 per sqft per year. That's a 43% decrease in rent.
Compared to the rest of the Houston Metro market, the Memorial submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 3 listings have come on the market, which means leases are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 100% of the available leases in the Memorial 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 3,280 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market are approximately 7 stories. Most buildings in this area were built in 1983 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this region. Commute by taxi is the most popular way to get to work amongst Memorial occupants. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.