The typical asking rate per listing is in the $50's per square foot per year. The Del Ray region is seeing a a rise in rates. In the last 3 months, the median rate increased $16 per sqft per year. That's a 38% increase in rent.
Compared to the rest of the Washington D.C. Area market, the Del Ray region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 17 listings have been made available, which means leases most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 12% of the available leases in the Del Ray are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 650 sqft. Most properties in this area are around 12 stories. Most buildings in this market were built in 1979 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Del Ray folk. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Del Ray.
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