On average, listings lease in the $30's per square foot per year. The Central Office region is experiencing a a boost in rates. In the last 3 months, the median rate rose $2 per sqft per year. That's a 6% rise in rent.
Compared to the rest of the Richmond market, the Central Office submarket has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 6 listings have been listed, which means new availabilities most likley are going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 2,640 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are approximately 18 stories. Most buildings in this market were built in 1973 and are Class A.
Education is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Central Office occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.