The typical asking rate per listing is in the $80's per square foot per year. The Downtown Greenwich region is going through a decline in rates. In the last 3 months, the median rate decreased $22 per sqft per year. That's a 20% decline in rent.
Compared to the rest of the Fairfield market, the Downtown Greenwich region has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 29 listings have come on the market, which means new listings might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 17% of the available space in the Downtown Greenwich are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 5,100 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market are approximately 3 floors. Most buildings in this region were built in 1968 and are Class A.
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 area. Most of the residents of Downtown Greenwich work from home. Commuting around an hour a day is the norm for those who opt to reside in this part of town.