Most listings are in the $30's per square foot per year. The Downtown Durham submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 4% decrease in rent.
Compared to the rest of the The Triangle market, the Downtown Durham submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 25 listings have been listed, which means new listings are probably 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.
The standard measurement for office space in this area is around 1,390 sqft. Most properties in this region are around 7 stories. Most buildings in this market were built in 1926 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Real estate is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Downtown Durham residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.