The typical asking rate per listing is in the $40's per square foot per year. The Downtown Bellvue submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $7 per sqft per year. That's a 13% decline in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Downtown Bellvue submarket has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 29 listings have been made available, which means leases are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 107% of the listings in the Downtown Bellvue are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 5,400 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this region are close to 9 floors. Most buildings in this area were built in 1982 and are Class A.
This region is fairly equally mixed residential and commercial. Wholesale trade is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Downtown Bellvue occupants. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.