The typical asking rate per listing is in the $30's per square foot per year. The Westlake submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $11 per sqft per year. That's a 22% decline in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Westlake region has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 15 listings have come on the market, which means spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 40% of the office spaces in the Westlake 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 4,880 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are approximately 5 stories. Most buildings in this market were built in 1986 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this region. Most of the residents 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.