How much does office space in Seattle cost?

How much does office space in Seattle cost?

Office Space | Seattle Lease Data and Trends

Office Space for Lease Class A Vacancy Rate
Belltown $39/sf 10%
Ballard/Fremont/U-District $45/sf 4%
Eastside $45/sf 8%
Seattle/Puget Sound $48/sf 12%

How much is it to rent a building in Seattle?

What is the average size and rental rate for a rentable office space in Seattle, WA? Currently, the average size of rentable office availabilities in Seattle, WA is 265,584 square feet, with a mean lease rate of approximately $26.65 per square foot.

Is Rent getting cheaper in Seattle?

Most rents in Seattle area stagnate — but drop for cheaper apartments and those in West Seattle. The coronavirus pandemic has caused most rents in the Seattle area to stagnate, though they’re falling for the least-expensive apartments, according to data from analytics firm RealPage.

What is a retail space?

Retail Space means total space within a store, leased or owned, for the purposes of promoting, selling, or distributing goods and services to consumers.

What is the average retail cost per square foot in the Seattle area?

Retail Market The Washington state average for Class A retail space is $134.61 / sq ft. The retail investment market remains limited due to low availability, as there are just over 40 retail properties for sale in Seattle’s metropolitan area, where direct asking prices average $203 / sq ft.

What does SF yr mean?

Meaning of $/SF Year in the Commercial Rental Industry In the commercial leasing industry, $/SF/year or $/SF/yr means the rent per square foot per year. Why is this important? This is because most commercial rental rates are usually quoted in dollars per square foot on an annual basis.

Why is Seattle so expensive to live?

As for why Seattle’s cost of living is much higher than normal, the report points mainly to housing costs. “Seattle’s housing market is tight,” the report said. “Demand usually exceeds supply, so most homes sell very quickly, on average within seven days of being put on the market.

Are rent prices up in Seattle?

Median Seattle rents are up about 4% over last month, the sixth straight month with an increase after a steep drop-off last year, according to the rent-tracking firm Apartment List. Median rent for a one-bedroom apartment in Seattle sits at $1,633, the highest since last June, according to Apartment List.

What can I use retail space for?

The Differences Between Retail vs. Office Space That You Should Know Before Signing a Lease

Space Type Retail Spaces Office Spaces
Commonly used for Retailers in the food, clothing, beauty, technology, and other similar industry services Medical, insurance, legal, real estate, and other similar industry services

What are the types of retail locations?

Types of Retail Outlets

  • Department Stores. A department store is a set-up which offers wide range of products to the end-users under one roof.
  • Discount Stores.
  • Supermarket.
  • Warehouse Stores.
  • Mom and Pop Store (also called Kirana Store in India)
  • Speciality Stores.
  • Malls.
  • E Tailers.

What does $7.00 SF yr mean?

In the commercial leasing industry, $/SF/year or $/SF/yr means the rent per square foot per year. This would be calculated as $20 x 1000 square feet = $20,000 total (this is the cost for the total year).

What does $1.00 SF Mo mean?

Most commercial lease rates are quoted in annual dollars per square foot. On the west coast of the US the rate might be quoted in dollars per square foot per month. Example: $1.25/SF for 1200 square foot would be calculated $1.25 X 1200 = $1,500 per month or $1.25 X 1200 X 12 = $18,000 per year.