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The typical asking rate per commerial real estate listing leases is in the $50's per square foot per year. The First Hill region is experiencing a a boost in rates. In the last 3 months, the median rate for lease rose $17 per sqft per year. That's a 52% rise in rent.
Compared to the rest of the Seattle Metropolitan Area commercial real estate market, the First Hill region has higher rates for rent, and you may need to make a great offer to be in this hot submarket.
In the last 90 days, 81 commercial real estate listings have been listed, so you'll want to check back regularly for new listings. 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 1,190 sqft. Most buildings in this region are close to 5 stories. Most buildings in this market were built approximately 1959 and are Class B.
Professional services is the dominant industry in this region. Commute by taxi is the most popular way to get to work amongst First Hill occupants. 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 First Hill.
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