On average, listings lease in the $20's per square foot per year. The Central Business District region is seeing a a boost in rates. In the last 3 months, the median rate increased $3 per sqft per year. That's a 11% increase in rent.
Compared to the rest of the Buffalo market, the Central Business District submarket has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 27 listings have been listed, which means listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 5,000 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this area are approximately 5 floors. Most buildings in this region were built in 1957 and are Class A.
Wholesale trade is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Central Business District occupants. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.