On average, listings lease in the $30's per square foot per year. The Newport submarket is seeing a an increase in rates. In the last 3 months, the median rate rose $30 per sqft per year.
Compared to the rest of the Seattle Metropolitan Area market, the Newport region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 0 listings have been made available, which means office spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About Inf% of the available leases in the Newport 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 posted, so finding a space for a small business might be tough.
Even though the median size is 8,410 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market are close to 2 floors. Most buildings in this region were built in 1983 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Utilities is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Newport occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.