Most listings are in the $20's per square foot per year. The Central Office region is seeing a decrease in rates. In the last 3 months, the median rate fell $13 per sqft per year. That's a 37% decline in rent.
Compared to the rest of the Richmond market, the Central Office region has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 4 listings have been posted online, which means spaces are probably going fast. 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.
The standard measurement for office space in this area is around 1,500 sqft. Most properties in this area 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 market. Commute by car is the most popular way to get to work amongst Central Office occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.