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On average, commerial real estate listings lease in the $30's per square foot per year. The Allston submarket is experiencing a an increase in rates. In the last 3 months, the median rate for lease rose $5 per sqft per year. That's a 17% rise in rent.
Compared to the rest of the Greater Boston commercial real estate market, the Allston submarket has higher rates for rent, and you may have to negotiate above asking rent to be in this hot region.
In the last 90 days, 24 commercial real estate listings have been made available, which means new listings might be going fast. You'll want to be prepared to make an offer immediately. 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 size for office space in this area is around 9,000 sqft. Most buildings in this region are close to 4 floors. Most buildings in this market were built around 1930 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this market. Commute by motorcycle is the most popular way to get to work amongst Allston occupants. Commuting close to 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 Allston.
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