On average, listings lease in the $10's per square foot per year. The Waterloo submarket is going through a an increase in rates. In the last 3 months, the median rate went up $16 per sqft per year.
In the last 90 days, 42 listings have been made available, so you'll want to check back regularly for new listings. About 71% of the listings in the Waterloo 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.
The standard measurement for office space in this area is around 1,700 sqft. Most properties in this market are close to 1 stories. Most buildings in this area were built in 1975 and are Class A.