On average, listings lease in the $40's per square foot per year. The Downtown Bellvue submarket is going through a decrease in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 10% decline in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Downtown Bellvue submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 29 listings have been posted online, which means leases are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 97% of the listings in the Downtown Bellvue 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 4,180 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are approximately 9 floors. Most buildings in this region were built in 1982 and are Class A.
This area is fairly equally mixed residential and commercial. Wholesale trade is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Downtown Bellvue folk. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.