The typical asking rate per listing is in the $20's per square foot per year. The Colchester Town submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 6% decrease in rent.
In the last 90 days, 15 listings have been posted online, which means listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 60% of the listings in the Colchester Town are subleases, so you might be able to find a shorter term or below market rent. 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 4,940 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are close to 4 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. Wholesale trade is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Colchester Town folk. Commuting around 15 minutes a day is the norm for those who opt to reside in this part of town.