Most listings are in the $40's per square foot per year. The Arts District submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $10 per sqft per year. That's a 16% decline in rent.
In the last 90 days, 7 listings have been made available, which means listings 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 available, so finding a space for a small business might be tough.
Even though the median size is 20,450 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are approximately 2 floors. Most buildings in this area were built in 1961 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this market. Commute by bike is the most popular way to get to work amongst Arts District occupants. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.