City Center Retail

City Center

Office Space Market Report

Number of Listings (last 90 days)
16
Median Rate ($/sqft/yr)
$18
Median Size (sqft)
820
As of: May 22, 2017

City Center Rates

Most listings are in the $10's per square foot per year. The City Center region is going through a decline in rates. In the last 3 months, the median rate fell $6 per sqft per year. That's a 24% decline in rent.

Compared to the rest of the Richmond market, the City Center submarket has lower rates, so you should have no trouble finding a great deal in this undervalued region.

City Center Listing Supply

In the last 90 days, 16 listings have been made available, which means office spaces most likley are going fast. You'll want to be prepared to make an offer immediately. 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 3,020 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are approximately 4 floors. Most buildings in this area were built in 1930 and are Class C.

City Center Community

This region is fairly equally mixed residential and commercial. Finance and insurance are the dominant industries in this market. Commute by walking is the most popular way to get to work amongst City Center folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in City Center.
Market Report

Market Data

Real time and historical data on commercial real estate listings in City Center.
Research