On average, listings lease in the $40's per square foot per year. The Pioneer Square submarket is seeing a a boost in rates. In the last 3 months, the median rate increased $45 per sqft per year.
Compared to the rest of the Seattle Metropolitan Area market, the Pioneer Square region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 7 listings have been posted online, which means listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 414% of the available leases in the Pioneer Square 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 posted, so finding a space for a small business might be tough.
Even though the median size is 3,620 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this region are close to 6 floors. Most buildings in this area were built in 1904 and are Class B.
This region is fairly equally mixed residential and commercial. Waste services is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Pioneer Square occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.