On average, listings lease in the $10's per square foot per year. The Chelsea submarket is seeing a an increase in rates. In the last 3 months, the median rate went up $16 per sqft per year.
Compared to the rest of the Greater Boston market, the Chelsea region has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 8 listings have been made available, which means new listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. 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 5,000 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this area are around 2 floors. Most buildings in this region were built in 1992 and are Class B.