On average, listings lease in the $40's per square foot per year. The South Boston region is going through a decline in rates. In the last 3 months, the median rate fell $28 per sqft per year. That's a 37% decrease in rent.
Compared to the rest of the Greater Boston market, the South Boston region has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 7 listings have been made available, which means office spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 29% of the listings in the South Boston 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.
Even though the median size is 5,620 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are around 7 stories. Most buildings in this market were built in 1918 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst South Boston residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.