On average, listings lease in the $20's per square foot per year. The Central Office submarket is going through a a rise in rates. In the last 3 months, the median rate rose $5 per sqft per year. That's a 22% rise in rent.
Compared to the rest of the Richmond market, the Central Office region has more expensive 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 listed, which means office spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 33% of the listings in the Central Office 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 available, so finding a space for a small business might be tough.
Even though the median size is 9,370 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are close to 18 stories. Most buildings in this area were built in 1973 and are Class A.
Education is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Central Office folk. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.