On average, listings lease in the $10's per square foot per year. The Newport News submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 16% decline in rent.
In the last 90 days, 35 listings have been posted online, which means leases most likley are going fast. You'll want to be prepared to make an offer immediately. About 120% of the office spaces in the Newport News 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 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 1,620 sqft. Most buildings in this market are close to 1 floors. Most buildings in this market were built in 1988 and are Class B.