On average, listings lease in the $20's per square foot per year. The Old Port District region is experiencing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 3% decrease in rent.
In the last 90 days, 6 listings have come on the market, which means new availabilities might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 17% of the available leases in the Old Port District 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.
The standard measurement for office space in this area is around 2,400 sqft. Most buildings in this market are approximately 4 floors. Most buildings in this region were built in 1868 and are Class Class B.
Waste services is the dominant industry in this region. Most of the residents of Old Port District work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.