On average, listings lease in the $70's per square foot per year. The Downtown Boston submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 2% decrease in rent.
Compared to the rest of the Greater Boston market, the Downtown Boston submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 96 listings have been posted online, so you'll want to check back regularly for new listings. About 5% of the available space in the Downtown Boston are subleases, so you will probably have to consider a longer term 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 6,700 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market are approximately 11 floors. Most buildings in this region were built in 1920 and are Class B.
Arts, entertainment, and restaurants are the dominant industries in this area. Commute by car is the most popular way to get to work amongst Downtown Boston residents. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.