On average, listings lease in the $70's per square foot per year. The Back Bay submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 5% decrease in rent.
Compared to the rest of the Greater Boston market, the Back Bay region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 14 listings have been listed, which means office spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 7,350 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market are close to 6 stories. Most buildings in this region were built in 1925 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Arts, entertainment, and restaurants are the dominant industries in this region. Most of the occupants of Back Bay work from home. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.