Most listings are in the $50's per square foot per year. The Colonial Village region is going through a decrease in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 7% decline in rent.
Compared to the rest of the Washington D.C. market, the Colonial Village region has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 12 listings have come on the market, which means office spaces most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 42% of the listings in the Colonial Village are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 3,580 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region were built in 1988 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this market. Commute by public transit is the most popular way to get to work amongst Colonial Village folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.