The typical asking rate per listing is in the $20's per square foot per year. The Memorial submarket is going through a an increase in rates. In the last 3 months, the median rate increased $7 per sqft per year. That's a 32% increase in rent.
Compared to the rest of the Houston Metro market, the Memorial submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 3 listings have been posted online, which means spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 467% of the listings in the Memorial 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 4,020 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are close to 7 floors. Most buildings in this region were built in 1983 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 market. Commute by taxi is the most popular way to get to work amongst Memorial occupants. Commuting around an hour a day is the norm for those who opt to reside in this part of town.