On average, listings lease in the $60's per square foot per year. The Highland region is experiencing a an increase in rates. In the last 3 months, the median rate increased $45 per sqft per year. That's a 213% rise in rent.
Compared to the rest of the Greater Austin market, the Highland submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 2 listings have been made available, which means leases most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 100% of the available space in the Highland are subleases, so you might be able to find a shorter term or below market rent. 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 1,570 sqft. Most properties in this area are approximately 5 floors. Most buildings in this region were built in 1982 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Highland folk. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.