On average, listings lease in the $20's per square foot per year. The Wilburton submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 17% decrease in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Wilburton submarket has lower rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 9 listings have been posted online, which means leases might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 22% of the office spaces in the Wilburton are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 2,890 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market are approximately 2 stories. Most buildings in this area were built in 1980 and are Class B.
A large portion of this market is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this area. Commute by motorcycle is the most popular way to get to work amongst Wilburton occupants. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.