On average, listings lease in the $50's per square foot per year. The Westlake submarket is seeing a a boost in rates. In the last 3 months, the median rate went up $15 per sqft per year. That's a 41% rise in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Westlake region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 15 listings have been listed, which means new availabilities are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 33% of the listings 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 760 sqft. Most properties in this region are around 5 floors. Most buildings in this region were built in 1986 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this market. Most of the folk 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.