On average, listings lease in the $30's per square foot per year. The Northwest Bellevue region is experiencing a an increase in rates. In the last 3 months, the median rate went up $3 per sqft per year. That's a 8% increase in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Northwest Bellevue region has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 5 listings have been made available, which means office spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 20% of the available space in the Northwest Bellevue are subleases, so you might be able to snag a great spot on a short term. 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 3,540 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are around 2 floors. Most buildings in this market were built in 1981 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this area. Most of the residents of Northwest Bellevue work from home. Commuting approximately an hour and a half a day is the norm for those who opt to reside in this part of town.