On average, listings lease in the $40's per square foot per year. The City Center submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $15 per sqft per year. That's a 26% decline in rent.
Compared to the rest of the Seattle Metropolitan Area market, the City Center submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 1 listings have been posted online, which means listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 200% of the available leases in the City Center 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 27,900 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are around 22 stories. Most buildings in this area were built in 1983 and are Class A.
Arts, entertainment, and restaurants are the dominant industries in this region. Commute by walking is the most popular way to get to work amongst City Center residents. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.