On average, listings lease in the $40's per square foot per year. The Canyon Park submarket is experiencing a an increase in rates. In the last 3 months, the median rate rose $18 per sqft per year. That's a 73% increase in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Canyon Park region has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 18 listings have come on the market, which means new listings most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 6% of the office spaces in the Canyon Park are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 6,350 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are around 2 floors. Most buildings in this market were built in 1999 and are Class A.
This market is fairly equally mixed residential and commercial. Professional services is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Canyon Park occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.