Most listings are in the $20's per square foot per year. The University Place submarket is seeing a an increase in rates. In the last 3 months, the median rate increased $22 per sqft per year.
Compared to the rest of the Seattle Metropolitan Area market, the University Place region has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 25 listings have been posted online, which means listings most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 8% of the available space in the University Place are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,960 sqft. Most buildings in this area are approximately 2 stories. Most buildings in this market were built in 1988 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst University Place residents. Commuting close to an hour and a half 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 Place.
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