Most listings are in the $20's per square foot per year. The Central Office region is seeing a a rise in rates. In the last 3 months, the median rate rose $5 per sqft per year. That's a 22% increase in rent.
Compared to the rest of the Richmond market, the Central Office submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 3 listings have been made available, which means new listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 33% of the available space in the Central Office 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.
Even though the median size is 9,370 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this area are close to 18 stories. Most buildings in this market were built in 1973 and are Class A.
Education is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Central Office residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.