The typical asking rate per listing is in the $40's per square foot per year. The South Lake Union submarket is experiencing a a boost in rates. In the last 3 months, the median rate went up $42 per sqft per year.
Compared to the rest of the Seattle Metropolitan Area market, the South Lake Union submarket has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 11 listings have been posted online, which means new listings most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 73% of the office spaces in the South 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 posted, so finding a space for a small business might be tough.
Even though the median size is 13,970 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are around 6 stories. Most buildings in this area were built in 1982 and are Class A.
This region is fairly equally mixed residential and commercial. Waste services is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst South Lake Union folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.