On average, listings lease in the $30's per square foot per year. The Downtown Lynn submarket is going through a an increase in rates. In the last 3 months, the median rate went up $33 per sqft per year.
Compared to the rest of the Greater Boston market, the Downtown Lynn submarket has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 4 listings have been made available, which means listings most likley are leasing quickly. 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 measurement for office space in this area is around 900 sqft. Most properties in this market are approximately 5 floors. Most buildings in this region were built in 1914 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this market. Most of the folk of Downtown Lynn work from home. Commuting approximately 10 minutes a day is the norm for those who opt to reside in this part of town.