On average, listings lease in the $40's per square foot per year. The Convention Civic submarket is seeing a decline in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 6% decrease in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Convention Civic region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 15 listings have been posted online, which means office spaces are probably going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,570 sqft. Most properties in this region are close to 24 stories. Most buildings in this region were built in 1982 and are Class A.
Professional services is the dominant industry in this area. Most of the occupants of Convention Civic work from home. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.