The typical asking rate per listing is in the $20's per square foot per year. The Wayland submarket is going through a decline in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 18% decline in rent.
Compared to the rest of the Greater Boston market, the Wayland submarket has smaller rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 19 listings have been posted online, which means leases most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 21% of the office spaces in the Wayland 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 600 sqft. Most properties in this area are close to 2 stories. Most buildings in this area were built in 1941 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Wayland residents. 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 Wayland.
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