On average, listings lease in the $20's per square foot per year. The Downtown Madison region is seeing a decline in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 16% decline in rent.
In the last 90 days, 19 listings have been listed, which means new availabilities most likley are going fast. You'll want to be prepared to make an offer immediately. About 5% of the listings in the Downtown Madison are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 1,350 sqft. Most properties in this region are close to 3 floors. Most buildings in this area were built in 1958 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Downtown Madison folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.