On average, listings lease in the $50's per square foot per year. The City Center North region is going through a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 1% decrease in rent.
Compared to the rest of the Seattle Metropolitan Area market, the City Center North submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 1 listings have been listed, which means leases might be leasing quickly. You'll want to be prepared to make an offer immediately. 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 4,390 sqft, there are still 0 leases below 2,000 sqft. Most properties in this market are close to 6 stories. Most buildings in this market were built in 1970.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this area. Most of the occupants of City Center North work from home. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.