The typical asking rate per listing is in the $40's per square foot per year. The Westlake submarket is seeing a a rise in rates. In the last 3 months, the median rate increased $48 per sqft per year.
Compared to the rest of the Seattle Metropolitan Area market, the Westlake submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 15 listings have been listed, which means listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 53% of the office spaces in the Westlake 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.
Even though the median size is 2,570 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are approximately 5 stories. Most buildings in this region were built in 1986 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this area. Most of the occupants of Westlake work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.