The typical asking rate per listing is in the $30's per square foot per year. The Newfield - Westover - Turn of River submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $7 per sqft per year. That's a 14% decrease in rent.
Compared to the rest of the Fairfield market, the Newfield - Westover - Turn of River submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 133 listings have come on the market, so you'll want to check back regularly for new listings. About 12% of the available leases in the Newfield - Westover - Turn of River 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 available, so finding a space for a small business might be tough.
Even though the median size is 7,500 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this region are around 3 stories. Most buildings in this area were built in 1971 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Newfield - Westover - Turn of River occupants. 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 Newfield - Westover - Turn of River.
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