On average, listings lease in the $30's per square foot per year. The Downtown Providence region is experiencing a an increase in rates. In the last 3 months, the median rate rose $33 per sqft per year.
Compared to the rest of the Greater Boston market, the Downtown Providence region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 12 listings have come on the market, which means spaces most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 108% of the listings in the Downtown Providence 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 6,680 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are approximately 6 floors. Most buildings in this market were built in 1957 and are Class A.
A large portion of this region 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.