The typical asking rate per listing is in the $30's per square foot per year. The City Center South region is experiencing a decrease in rates. In the last 3 months, the median rate fell $16 per sqft per year. That's a 31% decrease in rent.
Compared to the rest of the Seattle Metropolitan Area market, the City Center South region has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 2 listings have been listed, which means new availabilities most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 50% of the listings in the City Center South 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 6,130 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this area are around 6 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. Education is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst City Center South residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.