On average, listings lease in the $20's per square foot per year. The Midtown submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $11 per sqft per year. That's a 30% decline in rent.
Compared to the rest of the Houston Metro market, the Midtown submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 2 listings have been made available, which means office spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. About 250% of the available space in the Midtown 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 4,450 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this market are around 2 stories. Most buildings in this area were built in 1966 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this region. Commute by motorcycle is the most popular way to get to work amongst Midtown occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.