The typical asking rate per listing is in the $20's per square foot per year. The Downtown Salt Lake City submarket is seeing a decline in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 16% decrease in rent.
Compared to the rest of the Salt Lake City market, the Downtown Salt Lake City submarket has lower rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 93 listings have been listed, so you'll want to check back regularly for new listings. About 5% of the listings in the Downtown Salt Lake City are subleases, so you will probably have to focus your search on direct office leases. 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 3,720 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are close to 6 floors. Most buildings in this market were built in 1976 and are Class B.
A large portion of this region is residential, but there's plenty of office_space. Health care is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Downtown Salt Lake City residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.