On average, listings lease in the $20's per square foot per year. The First Ward region is going through a decline in rates. In the last 3 months, the median rate fell $11 per sqft per year. That's a 34% decline in rent.
In the last 90 days, 6 listings have been posted online, which means leases most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 17% of the available space in the First 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 1,980 sqft. Most buildings in this region are close to 2 floors. Most buildings in this market were built in 1975 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst First Ward occupants. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.