The typical asking rate per listing is in the $40's per square foot per year. The Waterfront submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 7% decline in rent.
In the last 90 days, 7 listings have come on the market, which means office spaces might be going fast. You'll want to be prepared to make an offer immediately. About 57% of the office spaces in the Waterfront 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 available, so finding a space for a small business might be tough.
Even though the median size is 6,060 sqft, there are still 0 office 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. Real estate is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Waterfront folk. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.