On average, listings lease in the $70's per square foot per year. The Back Bay region is seeing a an increase in rates. In the last 3 months, the median rate rose $10 per sqft per year. That's a 15% increase in rent.
Compared to the rest of the Greater Boston market, the Back Bay submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 279 listings have been posted online, so you'll want to check back regularly for new listings. About 8% of the available leases in the Back Bay 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 posted, so finding a space for a small business might be tough.
Even though the median size is 16,310 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this area are approximately 6 floors. Most buildings in this region were built in 1923 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Arts, entertainment, and restaurants are the dominant industries in this region. Most of the folk of Back Bay work from home. Commuting more than an hour and a half 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 Back Bay.
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