On average, listings lease in the $30's per square foot per year. The Puget submarket is going through a a rise in rates. In the last 3 months, the median rate increased $33 per sqft per year.
In the last 90 days, 14 listings have come on the market, which means spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. About 7% of the office spaces in the Puget 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.
The standard measurement for office space in this area is around 590 sqft. Most buildings in this market are approximately 2 stories. Most buildings in this region were built in 1986 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Puget residents. 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 Puget.
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