Teahouse - South Tower — Rental Market Data

At Teahouse - South Tower, leasing velocity averaged 10 days on market over the past 30 days and 18 days over the past 90 days, comfortably outpacing the Downtown Core submarket benchmark of 21 days on market. Closed lease counts tracked 8 deals in the last 30 days, 40 deals across the 90-day window, and 59 total lifetime transactions. Leasing turnover accelerated significantly through the summer months as seasonal absorption peaked.

At Teahouse - South Tower, transactions settled on average at an average discount of $31 per month, representing a 1.03% reduction below asking prices and delivering $372 in annual tenant savings. Exactly 39.0% of leases closed under asking price, reflecting mild tenant leverage and landlord concessions in a competitive leasing environment.

The 1-Bedroom + Den and 2-Bedroom floor plans anchor the majority of leasing volume at Teahouse - South Tower, averaging an average rent of $2,380 per month across 18 days on market and $3,436 per month across 22 days on market respectively. For 1-Bedroom + Den suites (24 closed leases), the average rent is $2,380 per month, median rent is $2,350 per month, P25-P75 range is $2,288 to $2,485 per month, average square feet is 518, rate per square foot is $4.65 per square foot, and DOM is 18. For 2-Bedroom suites (11 closed leases), the average rent is $3,436 per month, median rent is $3,400 per month, P25-P75 range is $3,400 to $3,475 per month, average square feet is 832, rate per square foot is $4.14 per square foot, and DOM is 22. For 3-Bedroom+ suites (11 closed leases), the average rent is $4,482 per month, median rent is $4,450 per month, P25-P75 range is $4,325 to $4,575 per month, average square feet is 947, rate per square foot is $4.74 per square foot, and DOM is 31. For 1-Bedroom suites (5 closed leases), the average rent is $2,160 per month, median rent is $2,150 per month, P25-P75 range is $2,100 to $2,400 per month, average square feet is 530, rate per square foot is $4.39 per square foot, and DOM is 11. For Studio suites (5 closed leases), the average rent is $2,000 per month, median rent is $2,000 per month, P25-P75 range is $1,950 to $2,000 per month, average square feet is 393, rate per square foot is $5.11 per square foot, and DOM is 13. For 2-Bedroom + Den suites (3 closed leases), the average rent is $3,383 per month, median rent is $3,400 per month, P25-P75 range is $3,350 to $3,425 per month, average square feet is 800, rate per square foot is $4.24 per square foot, and DOM is 26 (note that this represents an individual deal rather than a broad statistical benchmark).

At Teahouse - South Tower, verified parking stalls commanded an average realized premium of $114 per month when bundled into lease agreements. Standard parking accommodations were typically included in larger two-bedroom and three-bedroom floor plans. Active asking parking rates remained inconclusive due to insufficient paired sample data.

At Teahouse - South Tower, monthly rent figures moved from spring baselines to higher summer closing values. In April 2026, 3 units closed at an average rent of $3,267 per month, $4.20 per square foot, and 12 days on market. In May 2026, 15 units closed at an average rent of $2,853 per month, $4.35 per square foot, and 27 days on market. In June 2026, 20 units closed at an average rent of $2,815 per month, $4.59 per square foot, and 21 days on market. In July 2026, 13 units closed at an average rent of $2,986 per month, $4.54 per square foot, and 22 days on market. In August 2026, 8 units closed at an average rent of $3,431 per month, $5.09 per square foot, and 10 days on market.