Compared to the rest of the Seattle Metropolitan Area market, the South Lake Union region has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 3 listings have been listed, which means leases are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 33% of the office spaces in the South Lake Union are subleases, so you might be able to find a shorter term or below market rent. 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 14,000 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market are close to 6 stories. Most buildings in this region were built in 1984 and are Class A.
This region 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 South Lake Union residents. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.