On average, listings lease 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 fell $5 per sqft per year. That's a 14% decline in rent.
Compared to the rest of the The Triangle market, the Downtown Durham region has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 15 listings have been posted online, which means new availabilities most likley are going fast. You'll want to be prepared to make an offer immediately. About 113% of the available space in the Downtown Durham are subleases, so you might be able to snag a great spot on a short term. 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 23,660 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are around 7 floors. Most buildings in this market were built in 1963 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 region. Commute by car is the most popular way to get to work amongst Downtown Durham folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.