On average, listings lease in the $20's per square foot per year. The Downtown Lansing submarket is experiencing a a rise in rates. In the last 3 months, the median rate went up $3 per sqft per year. That's a 14% increase in rent.
In the last 90 days, 18 listings have been listed, which means new availabilities most likley are leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 7,790 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this region are close to 2 floors. Most buildings in this market were built in 1899 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 market. Most of the occupants of Downtown Lansing 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.