On average, listings lease in the $30's per square foot per year. The Orange County submarket is seeing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 4% decline in rent.
Compared to the rest of the The Triangle market, the Orange County submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 13 listings have come on the market, which means new listings might be leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 2,660 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this area are around 3 stories. Most buildings in this market were built in 2001 and are Class A.