On average, listings lease in the $20's per square foot per year. The College Commons submarket is experiencing a a rise in rates. In the last 3 months, the median rate rose $2 per sqft per year. That's a 13% increase in rent.
Compared to the rest of the Indianapolis market, the College Commons submarket has lower rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 3 listings have been listed, which means leases 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 1,860 sqft. Most buildings in this region were built in 1979 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this region. Most of the residents of College Commons work from home. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.