On average, listings lease in the $70's per square foot per year. The Downtown Greenwich submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $8 per sqft per year. That's a 9% decrease in rent.
Compared to the rest of the Fairfield market, the Downtown Greenwich region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 13 listings have been listed, which means office spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 15% of the available leases in the Downtown Greenwich are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,850 sqft. Most buildings in this region are approximately 4 floors. Most buildings in this region were built in 1970 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this area. Most of the occupants of Downtown Greenwich work from home. Commuting around an hour a day is the norm for those who opt to reside in this part of town.