The typical asking rate per listing is in the $40's per square foot per year. The Pioneer Square region is experiencing a a boost in rates. In the last 3 months, the median rate went up $8 per sqft per year. That's a 21% increase in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Pioneer Square region has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 7 listings have been listed, which means new availabilities are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 14% of the available space in the Pioneer Square 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 available, so finding a space for a small business might be tough.
Even though the median size is 5,820 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are approximately 6 floors. Most buildings in this area were built in 1904 and are Class B.
This region is fairly equally mixed residential and commercial. Waste services is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Pioneer Square occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.