Newport Office Space

Newport

Office Space Market Report

Number of Listings (last 90 days)
0
Median Rate ($/sqft/yr)
$40
Median Size (sqft)
2,130
As of: June 28, 2017

Newport Rates

On average, listings lease in the $20's per square foot per year. The Newport submarket is experiencing a a boost in rates. In the last 3 months, the median rate increased $28 per sqft per year.

Compared to the rest of the Seattle Metropolitan Area market, the Newport submarket has higher rates, and you'll need to pay a premium to be in this hot submarket.

Newport Listing Supply

In the last 90 days, 0 listings have been made available, which means spaces are probably going fast. You'll want to be prepared to make an offer immediately. About Inf% of the available leases in the Newport are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.

The standard measurement for office space in this area is around 2,130 sqft. Most buildings in this market are around 2 floors. Most buildings in this market were built in 1983 and are Class A.

Newport Community

A large portion of this region is residential, but there's plenty of office_space. Utilities is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Newport occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Newport.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Newport.
Research