Most listings are in the $10's per square foot per year. The Waterloo submarket is experiencing a an increase in rates. In the last 3 months, the median rate rose $16 per sqft per year.
In the last 90 days, 2 listings have been posted online, which means new availabilities 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 posted, so finding a space for a small business might be tough.
Even though the median size is 40,000 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this area are close to 2 stories.