Somerville Sublease

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Somerville

Office Space Market Report

Number of Listings (last 90 days)
34
Median Rate ($/sqft/yr)
$48
Median Size (sqft)
2,120
As of: June 24, 2017

Somerville Rates

The typical asking rate per listing is in the $40's per square foot per year. The Somerville region is seeing a a rise in rates. In the last 3 months, the median rate went up $48 per sqft per year.

Compared to the rest of the Greater Boston market, the Somerville submarket has greater 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 come on the market, which means spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 21% of the available space in the Somerville are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.

The standard measurement for office space in this area is around 2,120 sqft. Most buildings in this region are approximately 4 floors. Most buildings in this region 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