On average, listings lease in the $20's per square foot per year. The North Woburn region is seeing a decline in rates. In the last 3 months, the median rate fell $9 per sqft per year. That's a 23% decrease in rent.
Compared to the rest of the Greater Boston market, the North Woburn submarket has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 16 listings have been listed, which means new listings are probably going fast. You'll want to be prepared to make an offer immediately. About 31% of the listings in the North Woburn 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 2,420 sqft. Most properties in this area are close to 7 floors. Most buildings in this market were built in 1999 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst North Woburn folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.