The typical asking rate per listing is in the $30's per square foot per year. The Industrial District submarket is seeing a decline in rates. In the last 3 months, the median rate fell $7 per sqft per year. That's a 18% decline in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Industrial District region has smaller rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 2 listings have been made available, which means leases might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 50% of the available space in the Industrial District 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 2,650 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are around 2 stories. Most buildings in this area 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 folk. Commuting approximately 30 minutes a day is the norm for those who opt to reside in this part of town.