On average, listings lease in the $10's per square foot per year. The Park Place Plaza region is seeing a an increase in rates. In the last 3 months, the median rate rose $15 per sqft per year.
Compared to the rest of the Seattle Metropolitan Area market, the Park Place Plaza submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 19 listings have been posted online, which means leases most likley are leasing quickly. You'll want to be prepared to make an offer immediately. 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 1,770 sqft. Most properties in this region are approximately 2 floors. Most buildings in this market were built in 1981 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this market. Commute by car is the most popular way to get to work amongst Park Place Plaza folk. 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 Park Place Plaza.
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