On average, listings lease in the $30's per square foot per year. The University Park - South Downtown submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 12% decrease in rent.
In the last 90 days, 16 listings have come on the market, which means new listings might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 13% of the available leases in the University Park - South Downtown 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 3,380 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are close to 5 stories. Most buildings in this area were built in 1953 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this region. Commute by car is the most popular way to get to work amongst University Park - South Downtown folk. Commuting around an hour a day is the norm for those who opt to reside in this part of town.