On average, listings lease in the $40's per square foot per year. The Essex Village submarket is experiencing a a boost in rates. In the last 3 months, the median rate went up $50 per sqft per year.
In the last 90 days, 15 listings have come on the market, which means listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 7% of the office spaces in the Essex Village are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 470 sqft. Most buildings in this market are approximately 2 floors. Most buildings in this area were built in 1920.
Real time and historical data on commercial real estate listings in Essex Village.
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