The typical asking rate per listing is in the $20's per square foot per year. The City Center submarket is going through a an increase in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 3% increase in rent.
Compared to the rest of the Richmond market, the City Center region has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 16 listings have been made available, which means new availabilities might be going fast. You'll want to be prepared to tour spaces as quick as possible. 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 4,180 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this market are close to 3 floors. Most buildings in this area were built in 1930 and are Class C.
This region is fairly equally mixed residential and commercial. Finance and insurance are the dominant industries in this area. 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.