The typical asking rate per listing is in the $30's per square foot per year. The Old Fourth Ward region is going through a decline in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 15% decline in rent.
Compared to the rest of the Metro Atlanta market, the Old Fourth Ward submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 5 listings have been made available, which means new listings might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 80% of the available space in the Old Fourth Ward 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,500 sqft. Most properties in this area are approximately 3 floors. Most buildings in this market were built in 2008 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this market. Commute by bike is the most popular way to get to work amongst Old Fourth Ward occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.