On average, listings lease in the $40's per square foot per year. The Westlake submarket is going through a an increase in rates. In the last 3 months, the median rate rose $44 per sqft per year.
Compared to the rest of the Seattle Metropolitan Area market, the Westlake region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 17 listings have been posted online, which means spaces might be going fast. You'll want to be prepared to make an offer immediately. About 12% 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 posted, so finding a space for a small business might be tough.
Even though the median size is 5,400 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are around 5 stories. Most buildings in this region were built in 1994 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this area. Most of the residents 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.