On average, listings lease in the $10's per square foot per year. The Umstead region is going through a decline in rates. In the last 3 months, the median rate decreased $125 per sqft per year. That's a 88% decline in rent.
Compared to the rest of the The Triangle market, the Umstead region has less expensive rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 10 listings have been posted online, which means leases are probably going fast. You'll want to be prepared to make an offer immediately. About 10% of the office spaces in the Umstead are subleases, so you will probably have to focus your search on direct office leases. 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 2,580 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this region are approximately 1 floors. Most buildings in this market 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. Finance and insurance are the dominant industries in this area. Commute by public transit is the most popular way to get to work amongst Umstead occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.