The typical asking rate per listing is in the $30's per square foot per year. The Gateway North region is going through a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 2% decline in rent.
Compared to the rest of the Washington D.C. market, the Gateway North submarket has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 17 listings have been made available, which means spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 12% of the listings in the Gateway North are subleases, so you might be able to find a shorter term or below market rent. 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 12,250 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are approximately 5 stories. Most buildings in this market were built in 2000 and are Class A.
Public administration is the dominant industry in this market. Most of the occupants of Gateway North 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 Gateway North.
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