New Center Sublease

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New Center

Office Space Market Report

Number of Listings (last 90 days)
1
Median Rate ($/sqft/yr)
$22
Median Size (sqft)
960
As of: June 28, 2017

New Center Rates

The typical asking rate per listing is in the $20's per square foot per year. The New Center submarket is going through a an increase in rates. In the last 3 months, the median rate rose $22 per sqft per year.

Compared to the rest of the Detroit market, the New Center submarket has smaller rates, so you should have no trouble finding a great deal in this discounted submarket.

New Center Listing Supply

In the last 90 days, 1 listings have been listed, which means leases most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 600% of the available space in the New Center 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 960 sqft. Most buildings in this market are approximately 4 floors. Most buildings in this market were built in 1935 and are Class A.

New Center Community

A large portion of this market is residential, but there's plenty of office_space. Education is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst New Center folk. Commuting close to an hour and a half a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in New Center.
Market Report

Market Data

Real time and historical data on commercial real estate listings in New Center.
Research