On average, listings lease in the $20's per square foot per year. The Downtown Providence region is experiencing a decrease in rates. In the last 3 months, the median rate decreased $11 per sqft per year. That's a 32% decline in rent.
Compared to the rest of the Greater Boston market, the Downtown Providence region has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 12 listings have been made available, which means office spaces most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 17% of the listings in the Downtown Providence 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 8,900 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this market are close to 6 floors. Most buildings in this market were built in 1957 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Waste services is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Downtown Providence 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.