Most listings are in the $20's per square foot per year. The University region is seeing a decline in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 12% decline in rent.
Compared to the rest of the The Triangle market, the University submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 14 listings have been made available, which means office spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 7% of the office spaces in the University are subleases, so you will probably have to consider a longer term 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 1,890 sqft. Most properties in this market are approximately 2 floors. Most buildings in this market were built in 1965 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this market. Commute by taxi is the most popular way to get to work amongst University occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.