On average, listings lease in the $30's per square foot per year. The Westlake region is seeing a decrease in rates. In the last 3 months, the median rate fell $13 per sqft per year. That's a 26% decrease in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Westlake submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 160 listings have been listed, so you'll want to check back regularly for new listings. About 3% of the available space in the Westlake are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 4,880 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are around 4 stories. Most buildings in this area were built in 1986 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this area. Most of the residents of Westlake work from home. Commuting between 30 and 45 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 Westlake.
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