The typical asking rate per listing is in the $40's per square foot per year. The Convention Civic submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $7 per sqft per year. That's a 13% decrease in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Convention Civic region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 14 listings have come on the market, which means leases might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 179% of the listings in the Convention Civic 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 posted, so finding a space for a small business might be tough.
Even though the median size is 18,530 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are approximately 24 floors. Most buildings in this market were built in 1983 and are Class A.
Professional services is the dominant industry in this market. Most of the folk of Convention Civic work from home. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.