On average, listings lease in the $30's per square foot per year. The Factoria submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $6 per sqft per year. That's a 16% decrease in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Factoria submarket has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 9 listings have been posted online, which means new availabilities most likley are going fast. You'll want to be prepared to make an offer immediately. About 11% of the office spaces in the Factoria 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 8,240 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are close to 4 floors. Most buildings in this area were built in 1986 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this region. Commute by motorcycle is the most popular way to get to work amongst Factoria residents. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.