On average, listings lease in the $50's per square foot per year. The Convention Civic submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $8 per sqft per year. That's a 13% decrease in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Convention Civic submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 14 listings have been made available, which means office spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. About 57% of the available leases in the Convention Civic 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.
Even though the median size is 4,180 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are close to 24 stories. Most buildings in this region were built in 1983 and are Class A.
Professional services is the dominant industry in this area. Most of the residents of Convention Civic work from home. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.