The typical asking rate per listing is in the $30's per square foot per year. The Downtown Providence region is going through a a boost in rates. In the last 3 months, the median rate went up $33 per sqft per year.
Compared to the rest of the Greater Boston market, the Downtown Providence submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 12 listings have been made available, which means new availabilities are probably going fast. You'll want to be prepared to make an offer immediately. About 108% of the listings in the Downtown Providence 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.
Even though the median size is 6,680 sqft, there are still 0 leases below 2,000 sqft. Most properties in this market are close to 6 floors. Most buildings in this region were built in 1957 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Waste services is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Downtown Providence occupants. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.