Most listings are in the $20's per square foot per year. The Shockoe Slip submarket is experiencing a a rise in rates. In the last 3 months, the median rate increased $4 per sqft per year. That's a 16% rise in rent.
Compared to the rest of the Richmond market, the Shockoe Slip region has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 1 listings have been made available, which means new availabilities most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 100% of the listings in the Shockoe Slip 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 1,480 sqft. Most buildings in this region are close to 5 floors. Most buildings in this market were built in 1890 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this market. Commute by public transit is the most popular way to get to work amongst Shockoe Slip occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.