On average, listings lease in the $60's per square foot per year. The Back Bay submarket is experiencing a an increase in rates. In the last 3 months, the median rate rose $66 per sqft per year.
Compared to the rest of the Greater Boston market, the Back Bay submarket has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 19 listings have been listed, which means listings most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 79% of the office spaces in the Back Bay 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 27,640 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this market are close to 6 stories. Most buildings in this area were built in 1923 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Arts, entertainment, and restaurants are the dominant industries in this region. Most of the residents of Back Bay 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.