Most listings are in the $30's per square foot per year. The Westlake region is seeing a decline in rates. In the last 3 months, the median rate fell $8 per sqft per year. That's a 18% decrease in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Westlake submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 15 listings have been posted online, which means office spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 13% of the available leases in the Westlake are subleases, so you might be able to snag a great spot on a short term. 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 2,570 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are around 5 stories. Most buildings in this area were built in 1986 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this market. Most of the folk of Westlake work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.