On average, listings lease in the $20's per square foot per year. The Shockoe Slip submarket is experiencing a a boost in rates. In the last 3 months, the median rate rose $27 per sqft per year.
Compared to the rest of the Richmond market, the Shockoe Slip region has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 1 listings have been made available, which means leases most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 100% of the office spaces in the Shockoe Slip are subleases, so you might be able to snag a great spot on a short term. 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 properties in this market are close to 5 stories. 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 region. Commute by public transit is the most popular way to get to work amongst Shockoe Slip folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.