The typical asking rate per listing is in the $40's per square foot per year. The Pioneer Square submarket is seeing a a boost in rates. In the last 3 months, the median rate went up $3 per sqft per year. That's a 6% rise in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Pioneer Square region has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 7 listings have been posted online, which means new listings most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 14% of the office spaces in the Pioneer Square 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 5,820 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are around 6 stories. Most buildings in this area were built in 1904 and are Class B.
This area is fairly equally mixed residential and commercial. Waste services is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Pioneer Square folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.