South Lake Union Retail

South Lake Union

Office Space Market Report

Number of Listings (last 90 days)
11
Median Rate ($/sqft/yr)
$69
Median Size (sqft)
14,790
As of: May 23, 2017

South Lake Union Rates

Most listings are in the $60's per square foot per year. The South Lake Union submarket is seeing a a boost in rates. In the last 3 months, the median rate increased $21 per sqft per year. That's a 44% rise in rent.

Compared to the rest of the Seattle Metropolitan Area market, the South Lake Union region has more expensive rates, and you'll need to pay a premium to be in this hot region.

South Lake Union Listing Supply

In the last 90 days, 11 listings have been listed, which means leases most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 9% of the listings in the South Lake Union are subleases, so you will probably have to focus your search on direct office leases. 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 14,790 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are close to 6 floors. Most buildings in this region were built in 1982 and are Class A.

South Lake Union Community

This region is fairly equally mixed residential and commercial. Waste services is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst South Lake Union folk. 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