The typical asking rate per listing is in the $10's per square foot per year. The University Park submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $7 per sqft per year. That's a 25% decline in rent.
Compared to the rest of the Houston Metro market, the University Park region has smaller rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 1 listings have come on the market, which means listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 29,540 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this market are close to 6 floors. Most buildings in this area were built in 1984 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Real estate is the dominant industry in this area. Most of the residents of University Park work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.