The typical asking rate per listing is in the $20's per square foot per year. The Central Business District region is seeing a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 3% decline in rent.
Compared to the rest of the Greater New Orleans Region market, the Central Business District region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 37 listings have been posted online, which means spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 3% of the office spaces in the Central Business District are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 3,430 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this region are close to 5 floors. Most buildings in this market were built in 0 and are Class A.
This area is fairly equally mixed residential and commercial. Utilities is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Central Business District folk. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.