On average, listings lease in the $40's per square foot per year. The Second Ward submarket is experiencing a a boost in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 2% rise in rent.
Compared to the rest of the Metrolina market, the Second Ward submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 24 listings have been made available, which means leases might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 25% of the available leases in the Second Ward 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.
Even though the median size is 6,850 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are approximately 16 floors. Most buildings in this market were built in 1981 and are Class A.
Professional services is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Second Ward occupants. Commuting approximately 10 minutes a day is the norm for those who opt to reside in this part of town.