On average, listings lease in the $40's per square foot per year. The Second Ward region is seeing a decrease in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 10% decline in rent.
Compared to the rest of the Metrolina market, the Second Ward submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 20 listings have been listed, which means new listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 5% of the available space in the Second Ward are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 2,740 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are approximately 16 stories. Most buildings in this region were built in 1981 and are Class A.
Professional services is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Second Ward residents. Commuting around 10 minutes a day is the norm for those who opt to reside in this part of town.