On average, listings lease in the $30's per square foot per year. The Douglas region is seeing a decline in rates. In the last 3 months, the median rate decreased $8 per sqft per year. That's a 17% decline in rent.
Compared to the rest of the Gold Coast market, the Douglas submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 2 listings have been made available, which means leases most likley are going fast. 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 5,660 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are around 13 stories. Most buildings in this market were built in 1973 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 market. Commute by bike is the most popular way to get to work amongst Douglas residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.