Lake Union Sublease

Lake Union

Office Space Market Report

Number of Listings (last 90 days)
10
Median Rate ($/sqft/yr)
$40
Median Size (sqft)
1,600
As of: July 25, 2017

Lake Union Rates

On average, listings lease in the $30's per square foot per year. The Lake Union region is seeing a an increase in rates. In the last 3 months, the median rate went up $8 per sqft per year. That's a 25% increase in rent.

Compared to the rest of the Seattle Metropolitan Area market, the Lake Union submarket has higher rates, and you'll need to pay a premium to be in this hot region.

Lake Union Listing Supply

In the last 90 days, 10 listings have been listed, which means spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 70% of the office spaces in the Lake Union 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.

The standard measurement for office space in this area is around 1,600 sqft. Most buildings in this market are close to 2 stories. Most buildings in this market were built in 1974 and are Class B.

Lake Union Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this area. Commute by taxi is the most popular way to get to work amongst Lake Union residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Lake Union.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Lake Union.
Research