On average, listings lease in the $20's per square foot per year. The Central Business District submarket is going through a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 6% decrease in rent.
Compared to the rest of the Greater New Orleans Region market, the Central Business District submarket has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 20 listings have been posted online, which means office spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 5% of the available space in the Central Business District are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 2,670 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this area are approximately 4 stories. Most buildings in this market were built in 0 and are Class A.
This region is fairly equally mixed residential and commercial. Utilities is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Central Business District residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.