On average, listings lease in the $10's per square foot per year. The Central Business District submarket is going through a decline in rates. In the last 3 months, the median rate decreased $8 per sqft per year. That's a 30% decrease in rent.
Compared to the rest of the Buffalo market, the Central Business District region has less expensive rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 27 listings have come on the market, which means new listings 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 22,000 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this region are around 5 floors. Most buildings in this market were built in 1940 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 Central Business District folk. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.