On average, listings lease in the $30's per square foot per year. The Downtown Providence submarket is going through a a boost in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 4% rise in rent.
Compared to the rest of the Greater Boston market, the Downtown Providence submarket has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 12 listings have been listed, which means office spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 6,680 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are approximately 6 stories. Most buildings in this region were built in 1957 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Waste services is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Downtown Providence folk. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.