Downtown Springfield Sublease

Downtown Springfield

Office Space Market Report

Number of Listings (last 90 days)
14
Median Rate ($/sqft/yr)
$23
Median Size (sqft)
500
As of: June 23, 2017

Downtown Springfield Rates

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.

Downtown Springfield Listing Supply

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.

Downtown Springfield Community

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.

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