The typical asking rate per listing is in the $30's per square foot per year. The Westlake submarket is experiencing a a boost in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 4% increase in rent.
Compared to the rest of the Seattle Metropolitan Area market, the Westlake region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 6 listings have been listed, which means spaces might be going fast. You'll want to be prepared to make an offer immediately. About 33% of the office spaces 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 posted, so finding a space for a small business might be tough.
Even though the median size is 5,840 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are close to 5 stories. Most buildings in this region were built in 1986 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this region. Most of the folk 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.