On average, listings lease in the $40's per square foot per year. The Andover region is experiencing a an increase in rates. In the last 3 months, the median rate went up $21 per sqft per year. That's a 79% increase in rent.
Compared to the rest of the Greater Boston market, the Andover submarket has higher 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 made available, which means new availabilities most likley are going fast. You'll want to be prepared to make an offer immediately. About 7% of the listings in the Andover are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet available, 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 properties in this market are approximately 2 floors. Most buildings in this region were built in 1905 and are Class C.
Real time and historical data on commercial real estate listings in Andover.
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