On average, listings lease in the $10's per square foot per year. The Downtown Springfield submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $10 per sqft per year. That's a 35% decline in rent.
In the last 90 days, 6 listings have been listed, which means new availabilities most likley are going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 830 sqft. Most properties in this market are approximately 8 stories. Most buildings in this market were built in 1986 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Public administration is the dominant industry in this market. Commute by motorcycle is the most popular way to get to work amongst Downtown Springfield residents. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.