On average, listings lease in the $40's per square foot per year. The Pioneer Square submarket is going through a a rise in rates. In the last 3 months, the median rate rose $5 per sqft per year. That's a 14% increase in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Pioneer Square region has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 16 listings have been made available, which means new availabilities most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 25% of the available space 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 available, so finding a space for a small business might be tough.
Even though the median size is 5,820 sqft, there are still 0 leases below 2,000 sqft. Most properties in this market are approximately 6 floors. Most buildings in this region 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 region. 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.