The typical asking rate per listing is in the $20's per square foot per year. The Cultural District region is seeing a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 9% decrease in rent.
Compared to the rest of the Pittsburgh market, the Cultural District region has less expensive rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 16 listings have been made available, which means office spaces might be going fast. You'll want to be prepared to make an offer immediately. About 13% of the available leases in the Cultural District 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 5,720 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are close to 27 stories. Most buildings in this area were built in 1917 and are Class B.
This area is fairly equally mixed residential and commercial. Professional services is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Cultural District residents. Commuting approximately 30 minutes a day is the norm for those who opt to reside in this part of town.