The typical asking rate per listing is in the $30's per square foot per year. The Midtown submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $13 per sqft per year. That's a 30% decrease in rent.
In the last 90 days, 14 listings have been posted online, which means listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 121% of the available space in the Midtown 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 on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,900 sqft. Most buildings in this region are close to 3 floors. Most buildings in this market were built in 1981 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Midtown residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.