Most listings are in the $50's per square foot per year. The Saugatuck submarket is going through a decline in rates. In the last 3 months, the median rate decreased $7 per sqft per year. That's a 11% decrease in rent.
Compared to the rest of the Fairfield market, the Saugatuck region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 18 listings have come on the market, which means new listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 17% of the available leases in the Saugatuck 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 3,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are close to 2 stories. Most buildings in this region were built in 1900 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this region. Most of the occupants of Saugatuck work from home. Commuting between 30 and 45 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 Saugatuck.
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