The typical asking rate per listing is in the $30's per square foot per year. The Gateway North submarket is experiencing a a boost in rates. In the last 3 months, the median rate rose $3 per sqft per year. That's a 8% increase in rent.
Compared to the rest of the Washington D.C. market, the Gateway North submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 10 listings have come on the market, which means office spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. 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 4,770 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market are approximately 5 floors. Most buildings in this market were built in 2000 and are Class A.
Public administration is the dominant industry in this market. Most of the occupants of Gateway North 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.