On average, listings lease in the $30's per square foot per year. The Pioneer Square region is going through a decrease in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 7% decline in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Pioneer Square submarket has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 9 listings have been listed, which means leases might be going fast. You'll want to be prepared to make an offer immediately. About 44% of the office spaces in the Pioneer Square 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 3,030 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this region are close to 6 stories. Most buildings in this region were built in 1904 and are Class A.
This market is fairly equally mixed residential and commercial. Waste services is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Pioneer Square occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.