The typical asking rate per listing is in the $30's per square foot per year. The City Center South submarket is seeing a decrease in rates. In the last 3 months, the median rate fell $13 per sqft per year. That's a 26% decline in rent.
Compared to the rest of the Seattle Metropolitan Area market, the City Center South submarket has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 2 listings have been made available, which means office spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. About 50% of the available leases in the City Center South are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 6,130 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are close to 6 floors. Most buildings in this market were built in 1986 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Education is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst City Center South residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.