Pike-Market Sublease


Office Space Market Report

Number of Listings (last 90 days)
Median Rate ($/sqft/yr)
Median Size (sqft)
As of: October 20, 2016

Pike-Market Rates

Most listings are in the $30's per square foot per year. The Pike-Market submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $11 per sqft per year. That's a 22% decrease in rent.

Compared to the rest of the Seattle Metropolitan Area market, the Pike-Market region has greater rates, and you'll need to make a great offer to be in this hot submarket.

Pike-Market Listing Supply

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 tour spaces as quick as possible. About 40% of the available space in the Pike-Market 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 2,860 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are around 7 stories. Most buildings in this market were built in 1923 and are Class B.

Pike-Market Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Pike-Market residents. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.