On average, listings lease in the $40's per square foot per year. The Lower State region is seeing a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 7% decrease in rent.
In the last 90 days, 7 listings have been made available, which means new availabilities most likley are going fast. You'll want to be prepared to make an offer immediately. About 57% of the listings in the Lower State are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 6,060 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region were built in 1974 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this area. Most of the occupants of Lower State work from home. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.