On average, listings lease in the $10's per square foot per year. The Park Place submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $11 per sqft per year. That's a 43% decline in rent.
Compared to the rest of the Milwaukee market, the Park Place region has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 23 listings have come on the market, which means new availabilities are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 26% of the available leases in the Park Place 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 posted, so finding a space for a small business might be tough.
Even though the median size is 36,070 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this region are around 1 stories. Most buildings in this region were built in 1988 and are Class A.
Finance and insurance are the dominant industries in this area. Commute by car is the most popular way to get to work amongst Park Place occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.