The typical asking rate per listing is in the $30's per square foot per year. The Industrial District submarket is experiencing a a boost in rates. In the last 3 months, the median rate rose $5 per sqft per year. That's a 17% increase in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Industrial District region has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 6 listings have been posted online, which means new listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 33% of the available space in the Industrial District 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 7,000 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this region are approximately 2 stories. Most buildings in this market were built in 1947 and are Class A.
Utilities is the dominant industry in this region. Commute by motorcycle is the most popular way to get to work amongst Industrial District residents. Commuting approximately 30 minutes a day is the norm for those who opt to reside in this part of town.