On average, listings lease in the $20's per square foot per year. The Morningside submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 6% decline in rent.
In the last 90 days, 9 listings have come on the market, which means office spaces might be 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,990 sqft. Most buildings in this market are approximately 2 stories. Most buildings in this region were built in 1984 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Morningside folk. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.