The typical asking rate per listing is in the $20's per square foot per year. The Central City submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $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 less expensive rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 23 listings have been posted online, which means listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 9% of the listings 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 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 2,410 sqft. Most buildings in this area are close to 3 floors. Most buildings in this area 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 market. Commute by public transit is the most popular way to get to work amongst Central City occupants. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.