On average, listings lease 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 increased $42 per sqft per year.
Compared to the rest of the Seattle Metropolitan Area market, the Pioneer Square submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 7 listings have been listed, which means office spaces are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 186% of the available leases 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 4,580 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this region are around 6 floors. Most buildings in this region 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.