Somerville Sublease

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Somerville

Office Space Market Report

Number of Listings (last 90 days)
34
Median Rate ($/sqft/yr)
$26
Median Size (sqft)
2,000
As of: July 24, 2017

Somerville Rates

The typical asking rate per listing is in the $20's per square foot per year. The Somerville submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $17 per sqft per year. That's a 39% decline in rent.

Compared to the rest of the Greater Boston market, the Somerville region has higher rates, and you'll need to pay a premium to be in this hot submarket.

Somerville Listing Supply

In the last 90 days, 34 listings have been made available, which means spaces are probably going fast. You'll want to be prepared to make an offer immediately. About 3% of the listings in the Somerville are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 2,000 sqft. Most buildings in this area are close to 4 stories. Most buildings in this area were built in 1989 and are Class B.

Somerville Community

Market Report

Trends and status of the commercial real estate market in Somerville.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Somerville.
Research