The typical asking rate per listing is in the $30's per square foot per year. The Cultural District region is experiencing a a rise in rates. In the last 3 months, the median rate rose $5 per sqft per year. That's a 21% rise in rent.
Compared to the rest of the Pittsburgh market, the Cultural District submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 11 listings have come on the market, which means spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 36% of the available leases in the Cultural District are subleases, so you might be able to snag a great spot on a short term. 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 6,600 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are close to 27 stories. Most buildings in this market 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 region. Commute by public transit is the most popular way to get to work amongst Cultural District folk. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.