The typical asking rate per listing is in the $30's per square foot per year. The Westlake region is seeing a decrease in rates. In the last 3 months, the median rate fell $8 per sqft per year. That's a 18% decline in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Westlake region has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 15 listings have been made available, which means new listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 13% of the listings in the Westlake 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 available, so finding a space for a small business might be tough.
Even though the median size is 2,570 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are close to 5 floors. Most buildings in this market were built in 1986 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this region. Most of the occupants of Westlake work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.