On average, listings lease in the $20's per square foot per year. The Shockoe Slip submarket is going through a an increase in rates. In the last 3 months, the median rate increased $4 per sqft per year. That's a 16% rise in rent.
Compared to the rest of the Richmond market, the Shockoe Slip region has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 1 listings have been posted online, which means spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 100% of the available leases in the Shockoe Slip 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,480 sqft. Most buildings in this region are close to 5 floors. Most buildings in this area were built in 1890 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this market. Commute by public transit is the most popular way to get to work amongst Shockoe Slip folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.