On average, listings lease in the $30's per square foot per year. The Andover region is going through a decrease in rates. In the last 3 months, the median rate fell $14 per sqft per year. That's a 30% decline in rent.
Compared to the rest of the Greater Boston market, the Andover submarket has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 30 listings have been listed, which means office spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. About 13% of the available leases in the Andover 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 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 1,480 sqft. Most buildings in this region are around 2 floors. Most buildings in this market were built in 1905 and are Class C.
Real time and historical data on commercial real estate listings in Andover.
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