On average, listings lease in the $50's per square foot per year. The Ballston - Virginia Square region is seeing a a boost in rates. In the last 3 months, the median rate increased $7 per sqft per year. That's a 14% increase in rent.
Compared to the rest of the Washington D.C. market, the Ballston - Virginia Square region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 11 listings have been listed, which means office spaces might be going fast. You'll want to be prepared to make an offer immediately. About 9% of the available space in the Ballston - Virginia Square are subleases, so you will probably have to consider a longer term 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.
Even though the median size is 3,930 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are around 10 stories. Most buildings in this area were built in 1995 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Ballston - Virginia Square residents. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.