City Center Office Space

City Center

Office Space Market Report

Number of Listings (last 90 days)
16
Median Rate ($/sqft/yr)
$24
Median Size (sqft)
4,180
As of: February 26, 2017

City Center Rates

Most listings are in the $20's per square foot per year. The City Center region is going through a a boost in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 3% rise in rent.

Compared to the rest of the Richmond market, the City Center submarket has more expensive rates, and you'll need to make a great offer to be in this hot submarket.

City Center Listing Supply

In the last 90 days, 16 listings have been listed, which means listings most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 4,180 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this region are around 3 stories. Most buildings in this region were built in 1930 and are Class C.

City Center Community

This area is fairly equally mixed residential and commercial. Finance and insurance are the dominant industries in this market. Commute by walking is the most popular way to get to work amongst City Center folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in City Center.
Market Report

Market Data

Real time and historical data on commercial real estate listings in City Center.
Research