On average, listings lease in the $40's per square foot per year. The Waterfront region is going through a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 7% decrease in rent.
In the last 90 days, 8 listings have been made available, which means listings most likley are going fast. You'll want to be prepared to make an offer immediately. About 50% of the available space in the Waterfront 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.
Even though the median size is 3,700 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market were built in 1974 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Waterfront residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.