The typical asking rate per listing is in the $40's per square foot per year. The SoDo region is seeing a a rise in rates. In the last 3 months, the median rate rose $11 per sqft per year. That's a 31% increase in rent.
Compared to the rest of the Seattle Metropolitan Area market, the SoDo region has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 106 listings have come on the market, so you'll want to check back regularly for new listings. About 5% of the available space in the SoDo are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 14,800 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are approximately 2 floors. Most buildings in this area were built in 1947 and are Class A.
Waste services is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst SoDo residents. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in SoDo.
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