The typical asking rate per listing is in the $40's per square foot per year. The Pioneer Square submarket is going through a an increase in rates. In the last 3 months, the median rate increased $3 per sqft per year. That's a 6% increase in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Pioneer Square region has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 7 listings have come on the market, which means listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 14% of the office spaces in the Pioneer Square 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 5,820 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are around 6 floors. Most buildings in this market were built in 1904 and are Class B.
This area 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 folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.