On average, listings lease in the $60's per square foot per year. The Del Ray submarket is seeing a an increase in rates. In the last 3 months, the median rate increased $66 per sqft per year.
Compared to the rest of the Washington D.C. market, the Del Ray submarket has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 4 listings have come on the market, which means office spaces might be going fast. You'll want to be prepared to make an offer immediately. About 125% of the available space in the Del Ray 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 590 sqft. Most buildings in this market are approximately 12 stories. Most buildings in this area were built in 1979 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Del Ray occupants. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.