Lake Union Industrial

Lake Union

Office Space Market Report

Number of Listings (last 90 days)
10
Median Rate ($/sqft/yr)
$40
Median Size (sqft)
1,600
As of: July 19, 2017

Lake Union Rates

Most listings are in the $30's per square foot per year. The Lake Union submarket is experiencing a a rise in rates. In the last 3 months, the median rate increased $8 per sqft per year. That's a 25% increase in rent.

Compared to the rest of the Seattle Metropolitan Area market, the Lake Union submarket has higher rates, and you'll need to pay a premium to be in this hot region.

Lake Union Listing Supply

In the last 90 days, 10 listings have been posted online, which means spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 100% of the listings in the Lake Union 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.

The standard measurement for office space in this area is around 1,600 sqft. Most buildings in this area are close to 2 floors. Most buildings in this market were built in 1974 and are Class B.

Lake Union Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this region. Commute by taxi is the most popular way to get to work amongst Lake Union folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Lake Union.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Lake Union.
Research