Lake Union Industrial

Lake Union

Office Space Market Report

Number of Listings (last 90 days)
10
Median Rate ($/sqft/yr)
$40
Median Size (sqft)
30,700
As of: June 23, 2017

Lake Union Rates

Most listings are in the $30's per square foot per year. The Lake Union region is seeing a a boost in rates. In the last 3 months, the median rate rose $40 per sqft per year.

Compared to the rest of the Seattle Metropolitan Area market, the Lake Union region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.

Lake Union Listing Supply

In the last 90 days, 10 listings have been made available, which means new listings most likley are going fast. You'll want to be prepared to make an offer immediately. About 50% of the office spaces 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.

Even though the median size is 30,700 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are around 2 floors. Most buildings in this area were built in 1978 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 area. 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