The typical asking rate per listing is in the $20's per square foot per year. The Ellicott region is seeing a an increase in rates. In the last 3 months, the median rate rose $26 per sqft per year.
Compared to the rest of the Buffalo market, the Ellicott submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 2 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. About 150% of the office spaces in the Ellicott are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 45,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market are close to 3 stories. Most buildings in this region were built in 1926 and are Class B.
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 region. Commute by bike is the most popular way to get to work amongst Ellicott folk. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.