On average, listings lease 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 $9 per sqft per year. That's a 28% decline in rent.
Compared to the rest of the Greater Boston market, the Providence region has less expensive rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 27 listings have been listed, which means office spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 4% of the available space in the Providence are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 5,000 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are approximately 3 floors. Most buildings in this market were built in 1930 and are Class B.