Providence Office Space

Providence

Office Space Market Report

Number of Listings (last 90 days)
24
Median Rate ($/sqft/yr)
$26
Median Size (sqft)
4,700
As of: December 2, 2016

Providence Rates

The typical asking rate per listing is in the $20's per square foot per year. The Providence submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 15% decline in rent.

Compared to the rest of the Greater Boston market, the Providence submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.

Providence Listing Supply

In the last 90 days, 24 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 13% of the available space in the Providence are subleases, so you might be able to find a shorter term or below market rent. 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 4,700 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are around 3 stories. Most buildings in this area were built in 1930 and are Class B.

Providence Community

Market Report

Trends and status of the commercial real estate market in Providence.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Providence.
Research