On average, listings lease in the $30's per square foot per year. The Gateway North submarket is experiencing a a boost in rates. In the last 3 months, the median rate went up $3 per sqft per year. That's a 8% increase in rent.
Compared to the rest of the Washington D.C. market, the Gateway North region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 10 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. 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 4,770 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this region are approximately 5 floors. Most buildings in this market were built in 2000 and are Class A.
Public administration is the dominant industry in this market. Most of the occupants of Gateway North work from home. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.