The typical asking rate per listing is in the $20's per square foot per year. The Downtown Springfield submarket is seeing a an increase in rates. In the last 3 months, the median rate increased $23 per sqft per year.
In the last 90 days, 14 listings have been posted online, which means new availabilities are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 79% of the office spaces in the Downtown Springfield are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 500 sqft. Most properties in this market are approximately 3 floors. Most buildings in this region were built in 1914 and are Class A.
This market is fairly equally mixed residential and commercial. Public administration is the dominant industry in this region. Commute by motorcycle is the most popular way to get to work amongst Downtown Springfield residents. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.