On average, listings lease in the $40's per square foot per year. The SoDo submarket is experiencing a an increase in rates. In the last 3 months, the median rate increased $23 per sqft per year. That's a 95% rise in rent.
Compared to the rest of the Seattle Metropolitan Area market, the SoDo 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, 1 listings have been listed, which means leases are probably going fast. You'll want to be prepared to make an offer immediately. About 500% of the available leases in the SoDo 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 posted, so finding a space for a small business might be tough.
Even though the median size is 14,800 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are close to 2 floors. Most buildings in this market were built in 1947 and are Class A.
Waste services is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst SoDo folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.