On average, listings lease in the $20's per square foot per year. The Portsmouth submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 4% decrease in rent.
Compared to the rest of the Greater Boston market, the Portsmouth region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 28 listings have come on the market, which means new listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 18% of the available space in the Portsmouth are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 2,560 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are around 2 floors. Most buildings in this market were built in 1920 and are Class A.