Office Space Rents in Seattle, WA
Asking prices for office space in Seattle vary and are generally influenced by such factors as the property location, the building quality rating, and the proximity to amenities like restaurants, cafes, and entertainment venues, as well as how convenient access is to and from public transport, airports, and thoroughfares.
Most commonly, the cost in any location will first be influenced by the property class rating, which can be A, B, or C.
For example, Seattle space rated Class A averages $30.01 per square foot.
Meanwhile, Class B space in Seattle asks $27.22 per square foot, on average.
At the same time, listings in Class C buildings are listed for an average of $24.19 per square foot.
Overall, the average rent for office space in Seattle is $27.37 per square foot.
The maximum rental rate among listings for lease in Seattle is $53 per square foot.
Meanwhile, the minimum rental rate in Seattle is $2 per square foot.
Top Locations to Rent Office Space in Seattle, WA
There is no one-size-fits-all answer as to what the best office space for rent location is in Seattle. The best neighborhood or submarket match for you will depend on what are the most relevant factors to your business and your employees. You will most likely need to consider what works best for the type of business you need space for, the size of your company, the employee demographics, and of course the company budget.
However, a good starting point for finding your best options is to look at the areas where there is a high concentration of office property listings. These areas are typically well-connected to a range of access routes and are also home to a variety of amenities that serve the convenience of both workers and visitors.
In Seattle, the greatest concentration of office for rent opportunities is in Northern Seattle.
For your consideration, the average rent for office space in Northern Seattle is $37.24 per square foot, but you should expect some price variation across the market, depending on factors like location and property class.
For example, the asking rents in Northern Seattle average $42.32 for class A space, but is $35.57, on average, for class B listings, and $39 for class C.
Submarket
No. of Listings
Avg. Asking Rent
Class A&A+ Rent
Class B Rent
Class C Rent
Vacancy Rate
Northern Seattle
97
$37.24
$42.32
$35.57
$39
33.48%
Seattle - Central Business District
79
$35.82
$39.99
$30.61
36.64%
Renton
51
$25.65
$25.04
$28.71
$22.02
23.93%
Belltown
45
$43.09
$47.23
$42.7
28.06%
Lynnwood
44
$29.52
$33.25
$28.48
$20.71
17.31%
Key Factors to Consider when Choosing an Office Space for Rent in Seattle, WA
The quality of an office property can be judged based on subjective factors such as the prospective tenant’s preferred architecture style, the overall design of the surrounding area, as well as the amount and/or diversity of amenities available within a convenient distance.
Some quality factors, however, are considered to be mostly objective, and have been somewhat standardized as top things to consider when looking for a specific quality of space for your business. These include construction grade and building quality ratings, sustainability certifications, the total age or the property, as well as any renovation work that was done.
A local breakdown by property class shows that about 57.79% office space listings in Seattle are in properties rated class A.
An additional 12.17% represents trophy class or class A+ space.
Class B space makes up 28.06% space available in Seattle.
Class C space listed for rent locally accounts for 1.98% opportunities on the local leasing market.
If considering quality space by property age, the Seattle market is also a mixed bag in this respect. About 55.37% of local office properties were completed before the year 2000.
Office space delivered in and since the year 2000 makes up 44.63% of the local market and adds up to a total of 18,510,444 square feet.
However, a certain age of completion of the original structure does not necessarily mean that a property is too old. Older properties are often considered to have excellent bones and are good subjects for adaptive reuse redevelopment or extensive renovation to modernize the interior space. With that in mind, you should consider that roughly 3.86% of all office properties here are buildings that have been renovated at least once since 2000.
Seattle, WA Office Space for Lease by Building Class
- Class A+
- Class A
- Class B
- Class C
Modern quality standards also take into account the property’s sustainability minded design, which is largely standardized by certification processes such as the LEED program. In Seattle, you can find 787 listings for rent that are in LEED-certified or LEED-proposed properties.
So-called “green” office space includes several types of certification and accounts for about 44% of the Seattle market.
The local market is home to 81 LEED-certified office building(s). Certification can range from basic LEED requirements to Platinum, which is the highest achievable level of certification awarded by the U.S. Green Building Council.
Currently, Seattle has 4 LEED-proposed office building(s) awaiting certification.
Finding Office Space for Rent in Seattle, WA Near You
If you have a certain point of interest in mind for renting an office in Seattle, it’s easy to navigate local leasing opportunities around it. Using our interactive search map, you can zoom in to your preferred location and then customize your search area around that specific point of interest by selecting “Radius” from the Search Mode options menu. Establish the center of your desired search area with one click on the map, and then expand the radius as much as you need to. Browse the resulting list of available office spaces for rent to find the best match for your location and other business needs.
Data was provided by Yardi Research Data and refers to office properties at least 25,000 square feet in size. Prices shown reflect the average rate per square foot.
1501 East Madison Street, Minor, Seattle, WA
83 South King Street, Pioneer Square, Seattle, WA
2124 3rd Ave, Belltown, Seattle, WASpace Type
2320 West Commodore Way, Interbay, Seattle, WA
568 1st Ave S, Pioneer Square, Seattle, WA
818 Stewart Street, Belltown, Seattle, WA
221 1st Avenue West Suite 200, Seattle, WASpace Type
4 Nickerson Street, North Queen Anne, Seattle, WASpace Type
1414 NE 42nd Street, University District, Seattle, WASpace Type
400 Dexter Avenue North, South Lake Union, Seattle, WASpace Type
15811 Ambaum Blvd SW, Burien, WASpace Type
2454 Occidental Ave S, Harbor Island-Industrial District, Seattle, WA
411 First Avenue South, Pioneer Square, Seattle, WA
1631 15th Ave W, Interbay, Seattle, WA
419 Occidental Ave S, Seattle, WASpace Type
2401 Elliott Avenue, Central Waterfront, Seattle, WA
95 South Jackson, Pioneer Square, Seattle, WA
2211 5th Ave, Belltown, Seattle, WA
1201 3rd Ave, Seattle Central Business District, Seattle, WA
111 South Jackson Street, Pioneer Square, Seattle, WA
700 Dexter Avenue North, South Lake Union, Seattle, WA
2225 1st Ave, Belltown, Seattle, WA
2200 1st Avenue South, Harbor Island-Industrial District, Seattle, WA
131 SW 157th St, Burien, WASpace Type
351 Elliott Avenue West, Interbay, Seattle, WA
1455 NW Leary Way Suite 400, Seattle, WASpace Type
1301 5th Avenue, Seattle Central Business District, Seattle, WASpace Type
830 4th Avenue South, Harbor Island-Industrial District, Seattle, WA
705 5th Avenue South, International District, Seattle, WA
12352 Lake City Way NE, Cedar Park, Seattle, WASpace Type
16259 Sylvester Road SW, Burien, WA
800 5th Avenue, Seattle Central Business District, Seattle, WA
