Downtown Springfield Sublease

Downtown Springfield

Office Space Market Report

Number of Listings (last 90 days)
21
Median Rate ($/sqft/yr)
$28
Median Size (sqft)
650
As of: January 17, 2017

Downtown Springfield Rates

On average, listings lease in the $20's per square foot per year. The Downtown Springfield region is experiencing a a boost in rates. In the last 3 months, the median rate rose $1 per sqft per year. That's a 2% rise in rent.

Downtown Springfield Listing Supply

In the last 90 days, 20 listings have come on the market, which means listings might be going fast. You'll want to be prepared to make an offer immediately. About 5% of the office spaces in the Downtown Springfield are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 650 sqft. Most buildings in this region are approximately 8 floors. Most buildings in this market were built in 1938 and are Class A.

Downtown Springfield Community

This market is fairly equally mixed residential and commercial. Public administration is the dominant industry in this market. Commute by motorcycle is the most popular way to get to work amongst Downtown Springfield occupants. Commuting approximately 20 minutes 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 Downtown Springfield.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Downtown Springfield.
Research