The typical asking rate per listing is in the $10's per square foot per year. The University Drive submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $11 per sqft per year. That's a 36% decline in rent.
Compared to the rest of the Gold Coast market, the University Drive region has lower rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 25 listings have been posted online, which means new availabilities most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 12% of the listings in the University Drive 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,540 sqft. Most buildings in this region are close to 3 floors. Most buildings in this market were built in 1988 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this region. Most of the occupants of University Drive work from home. Commuting close to an hour and a half a day is the norm for those who opt to reside in this part of town.