South Lake Union Retail

South Lake Union

Office Space Market Report

Number of Listings (last 90 days)
5
Median Rate ($/sqft/yr)
$66
Median Size (sqft)
7,580
As of: January 18, 2017

South Lake Union Rates

The typical asking rate per listing is in the $60's per square foot per year. The South Lake Union region is seeing a an increase in rates. In the last 3 months, the median rate rose $66 per sqft per year.

Compared to the rest of the Seattle Metropolitan Area market, the South Lake Union submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.

South Lake Union Listing Supply

In the last 90 days, 6 listings have been posted online, which means leases are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 17% of the available leases in the South Lake Union 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 available, so finding a space for a small business might be tough.

Even though the median size is 13,770 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are close to 6 floors. Most buildings in this market were built in 1984 and are Class A.

South Lake Union Community

This market 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 South Lake Union residents. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in South Lake Union.
Market Report

Market Data

Real time and historical data on commercial real estate listings in South Lake Union.
Research