The typical asking rate per listing is in the $10's per square foot per year. The City Center region is experiencing a decline in rates. In the last 3 months, the median rate decreased $18 per sqft per year. That's a 51% decrease in rent.
Compared to the rest of the The Triangle market, the City Center submarket has lower rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 7 listings have been posted online, which means leases most likley are going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 4,510 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market are approximately 7 floors. Most buildings in this market were built in 1973 and are Class A.
Wholesale trade is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst City Center occupants. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.