On average, listings lease in the $40's per square foot per year. The North Central submarket is seeing a decline in rates. In the last 3 months, the median rate fell $15 per sqft per year. That's a 24% decline in rent.
Compared to the rest of the Washington D.C. Area market, the North Central region has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 113 listings have come on the market, so you'll want to check back regularly for new listings. About 4% of the available space in the North Central 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 posted, so finding a space for a small business might be tough.
Even though the median size is 7,340 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are approximately 11 stories. Most buildings in this market were built in 1984 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Health care is the dominant industry in this market. Most of the residents of North Central 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 North Central.
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