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On average, commerial real estate listings lease in the $50's per square foot per year. The City Center North submarket is seeing a an increase in rates. In the last 3 months, the median rate for lease rose $3 per sqft per year. That's a 7% rise in rent.
Compared to the rest of the Seattle Metropolitan Area commercial real estate market, the City Center North submarket has more expensive rates for rent, and you may need to make a great offer to be in this hot submarket.
In the last 90 days, 34 commercial real estate listings have come on the market, which means new listings are probably going fast. You'll want to be prepared to make an offer immediately. About 3% of the available commercial real estate leases in the City Center North are subleases, so you will probably have to consider a longer term lease. 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 size for office space in this area is around 820 sqft. Most properties in this area are approximately 6 stories. Most buildings in this market were built around 1979.
A large portion of this region is residential, but there's plenty of office space. Information is the dominant industry in this region. Most of the residents of City Center North work from home. Commuting around 15 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 City Center North.
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