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Most commerial real estate listings for lease are in the $10's per square foot per year. The Gloucester submarket is experiencing a a rise in rates. In the last 3 months, the median rate for lease went up $18 per sqft per year.
Compared to the rest of the Greater Boston commercial real estate market, the Gloucester region has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 12 commercial real estate listings have been listed, which means listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 8% of the commercial real estate listings in the Gloucester are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard size for office space in this area is around 1,480 sqft. Most buildings in this market are close to 1 stories. Most buildings in this region were built close to 2008.
Real time and historical data on commercial real estate listings in Gloucester.
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