On average, listings lease in the $20's per square foot per year. The Central City submarket is going through a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 3% decline in rent.
Compared to the rest of the Salt Lake City market, the Central City region has smaller rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 19 listings have come on the market, which means spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 5% of the available space in the Central City are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 3,000 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this area are approximately 4 stories. Most buildings in this market were built in 1978 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this region. Commute by public transit is the most popular way to get to work amongst Central City residents. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.