Most listings are in the $40's per square foot per year. The Pioneer Square region is seeing a a rise in rates. In the last 3 months, the median rate went up $8 per sqft per year. That's a 21% increase in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Pioneer Square submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 7 listings have been made available, which means spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 14% of the office spaces in the Pioneer Square 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 available, so finding a space for a small business might be tough.
Even though the median size is 5,820 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market are around 6 stories. Most buildings in this region were built in 1904 and are Class B.
This market is fairly equally mixed residential and commercial. Waste services is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Pioneer Square occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.