On average, listings lease in the $30's per square foot per year. The Umstead submarket is going through a an increase in rates. In the last 3 months, the median rate rose $15 per sqft per year. That's a 89% increase in rent.
Compared to the rest of the The Triangle market, the Umstead submarket has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 14 listings have been listed, which means leases are probably leasing quickly. 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 2,930 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are close to 1 floors. Most buildings in this area were built in 2008 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this region. Commute by public transit is the most popular way to get to work amongst Umstead folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.