On average, listings lease in the $10's per square foot per year. The Shockoe Slip submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $9 per sqft per year. That's a 32% decline in rent.
Compared to the rest of the Richmond market, the Shockoe Slip region has less expensive rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 1 listings have been listed, which means new listings are probably 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,080 sqft. Most buildings in this region are around 5 floors. Most buildings in this area were built in 1989 and are Class B.
A large portion of this region is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this area. 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.