On average, listings lease in the $20's per square foot per year. The Arts District submarket is going through a decline in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 13% decline in rent.
In the last 90 days, 15 listings have come on the market, which means spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 73% of the available space in the Arts District 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,110 sqft. Most properties in this area are approximately 4 stories. Most buildings in this market were built in 1900 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Health care is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Arts District occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.