On average, listings lease in the $30's per square foot per year. The SoNo region is experiencing a decline in rates. In the last 3 months, the median rate decreased $7 per sqft per year. That's a 16% decrease in rent.
Compared to the rest of the Metro Atlanta market, the SoNo submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 16 listings have been posted online, which means spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 2,660 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are close to 28 floors. Most buildings in this region were built in 1974 and are Class B.
This area is fairly equally mixed residential and commercial. Arts, entertainment, and restaurants are the dominant industries in this market. Most of the occupants of SoNo work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.