Most listings are in the $20's per square foot per year. The City Center submarket is experiencing a a rise in rates. In the last 3 months, the median rate rose $1 per sqft per year. That's a 3% increase in rent.
Compared to the rest of the Richmond market, the City Center submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 15 listings have been posted online, which means office spaces 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 4,180 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are approximately 3 floors. Most buildings in this region were built in 1930 and are Class C.
This region is fairly equally mixed residential and commercial. Finance and insurance are the dominant industries in this area. Commute by walking is the most popular way to get to work amongst City Center folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.