Most listings are in the $30's per square foot per year. The University District submarket is going through a decline in rates. In the last 3 months, the median rate decreased $15 per sqft per year. That's a 31% decline in rent.
Compared to the rest of the Seattle Metropolitan Area market, the University District submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 34 listings have been posted online, which means new availabilities most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 12% of the office spaces in the University District 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 820 sqft. Most properties in this market are approximately 5 floors. Most buildings in this area were built in 1981 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this region. Most of the folk of University District work from home. Commuting around 30 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 University District.
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