Most listings are in the $20's per square foot per year. The Downtown Troy region is going through a a rise in rates. In the last 3 months, the median rate went up $5 per sqft per year. That's a 26% increase in rent.
Compared to the rest of the Metro Detroit market, the Downtown Troy region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 38 listings have been listed, which means new listings might be going fast. You'll want to be prepared to make an offer immediately. About 8% of the office spaces in the Downtown Troy are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 4,470 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are approximately 3 floors. Most buildings in this market were built in 1984 and are Class B.
Arts, entertainment, and restaurants are the dominant industries in this market. Most of the folk of Downtown Troy 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.