On average, listings lease in the $10's per square foot per year. The Ellicott submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $8 per sqft per year. That's a 33% decline in rent.
Compared to the rest of the Buffalo market, the Ellicott region has less expensive rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 2 listings have come on the market, which means new availabilities 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.
The standard measurement for office space in this area is around 1,000 sqft. Most properties in this region are around 2 stories. Most buildings in this market were built in 1926 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Ellicott residents. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.