On average, listings lease in the $20's per square foot per year. The University Place region is experiencing a an increase in rates. In the last 3 months, the median rate went up $22 per sqft per year.
Compared to the rest of the Seattle Metropolitan Area market, the University Place submarket has less expensive rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 0 listings have been posted online, which means spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About Inf% of the listings in the University Place 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.
The standard measurement for office space in this area is around 1,960 sqft. Most properties in this region are approximately 1 floors. Most buildings in this area were built in 1988 and are Class B.