The typical asking rate per listing is in the $90's per square foot per year. The Downtown Greenwich region is experiencing a a rise in rates. In the last 3 months, the median rate rose $17 per sqft per year. That's a 22% increase in rent.
Compared to the rest of the Fairfield market, the Downtown Greenwich submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 23 listings have been posted online, 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 Downtown Greenwich 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 available, so finding a space for a small business might be tough.
Even though the median size is 3,400 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are approximately 3 floors. Most buildings in this area were built in 1970 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this market. Most of the occupants of Downtown Greenwich work from home. Commuting around an hour a day is the norm for those who opt to reside in this part of town.