The typical asking rate per listing is in the $20's per square foot per year. The University Drive region is experiencing a decrease in rates. In the last 3 months, the median rate fell $70 per sqft per year. That's a 76% decline in rent.
Compared to the rest of the Gold Coast market, the University Drive region has less expensive rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 22 listings have been made available, which means office spaces are probably going fast. 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.
The standard measurement for office space in this area is around 2,000 sqft. Most properties in this region are approximately 5 floors. Most buildings in this market were built in 1987 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 area. Most of the residents of University Drive work from home. Commuting close to an hour and a half a day is the norm for those who opt to reside in this part of town.