The typical asking rate per listing is in the $20's per square foot per year. The North Common region is seeing a an increase in rates. In the last 3 months, the median rate went up $21 per sqft per year.
Compared to the rest of the Greater Boston market, the North Common region has lower rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 32 listings have come on the market, which means office spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 6% of the available leases in the North Common 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.
The standard measurement for office space in this area is around 1,360 sqft. Most properties in this region are approximately 5 stories. Most buildings in this region were built in 1901 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this region. Most of the residents of North Common work from home. Commuting around an hour 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 North Common.
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