Most listings are in the $40's per square foot per year. The Pioneer Square submarket is experiencing a an increase in rates. In the last 3 months, the median rate rose $8 per sqft per year. That's a 21% rise in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Pioneer Square region has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 11 listings have been posted online, which means office spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. About 9% of the available leases in the Pioneer Square 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 available, so finding a space for a small business might be tough.
Even though the median size is 15,770 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are approximately 6 stories. 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 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.