Most listings are in the $30's per square foot per year. The Industrial District submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $7 per sqft per year. That's a 18% decrease in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Industrial District submarket has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 2 listings have been listed, which means new availabilities might be going fast. You'll want to be prepared to make an offer immediately. About 50% of the office spaces in the Industrial District are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 7,000 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are around 2 stories. Most buildings in this region were built in 1947 and are Class A.
Utilities is the dominant industry in this market. Commute by motorcycle is the most popular way to get to work amongst Industrial District residents. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.