The typical asking rate per listing is in the $10's per square foot per year. The Springfield submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $24 per sqft per year. That's a 60% decrease in rent.
Compared to the rest of the Washington D.C. Area market, the Springfield region has smaller rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 62 listings have been made available, so you'll want to check back regularly for new listings. About 5% of the office spaces in the Springfield are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 7,800 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market are around 2 stories. Most buildings in this area were built in 1972 and are Class C.
Real time and historical data on commercial real estate listings in Springfield.
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