The typical asking rate per listing is in the $90's per square foot per year. The Downtown Greenwich submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $17 per sqft per year. That's a 15% decline in rent.
Compared to the rest of the Fairfield market, the Downtown Greenwich region has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 29 listings have been made available, which means new availabilities most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 10% of the listings 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 3,400 sqft, there are still 0 leases below 2,000 sqft. Most properties in this market are close to 3 floors. Most buildings in this area 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 market. Most of the folk of Downtown Greenwich work from home. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.