The typical asking rate per listing is in the $20's per square foot per year. The Colonial Park submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 6% decline in rent.
In the last 90 days, 12 listings have come on the market, which means new availabilities most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 50% of the available leases in the Colonial Park 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 14,000 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are approximately 2 floors. Most buildings in this market were built in 2000 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this region. Commute by walking is the most popular way to get to work amongst Colonial Park folk. Commuting approximately 10 minutes a day is the norm for those who opt to reside in this part of town.