On average, listings lease in the $80's per square foot per year. The Rio Grande submarket is going through a a rise in rates. In the last 3 months, the median rate rose $6 per sqft per year. That's a 8% rise in rent.
Compared to the rest of the Salt Lake City market, the Rio Grande submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 79 listings have been posted online, so you'll want to check back regularly for new listings. About 75% of the listings in the Rio Grande are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 330 sqft. Most buildings in this area are approximately 7 floors. Most buildings in this market were built in 1924 and are Class B.
Information is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Rio Grande occupants. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.