Compared to the rest of the The Triangle market, the Downtown Chapel Hill submarket has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 4 listings have been listed, which means new listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 75% of the office spaces in the Downtown Chapel Hill 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 210 sqft. Most properties in this area are close to 9 stories. Most buildings in this region were built in 2008 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this market. Commute by motorcycle is the most popular way to get to work amongst Downtown Chapel Hill occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.