Associate, Savills Studley
Washington Licensed Real Estate Broker
In the heart of Seattle’s early stage startup market at 1014-1016 First Avenue South, Seattle, WA this space is ideal for companies look to expand up to 50 employees. At 8,628 SF this 2nd floor suite is wide open, with a highly sought after brick and beam appeal- ideal for creative, highly collaborative users.
With unmatched access to major interstates I-5 and I-90, as well as mass transit (9 min walk to Light Rail) the location is very desirable. If public transit isn’t your style, there is ample parking available.
Creative office space is plentiful in Pioneer Square and tenants receive a considerable discount compared with other downtown sub-markets, the asking rate here is $39/FSG. Over 75 tech companies occupy approximately 1.3 million SF in Pioneer Square, including Dell EMC, Avalara, CDK Global, Realself, Qaultrics, and ComScore.
Unsurprisingly, tech has been a major contributor to positive net absorption here and companies established themselves in droves in 2015 and 2016. Many firms are leasing space at creative office buildings that are typically 3 Star properties, or Class C. Notable move-ins include Galvanize, which took 70,000 SF of space at 101–111 Jackson St. in January 2015, and Payscale, which took 30,000 SF of space at 1000 First Ave. S in August 2015. Indeed, and Qualtrics also call this sub-market home, and Indeed renewed its lease in mid-2015, however is looking to expand into 200,000 SF in the downtown core.
Size: 8,628 SF
Location: 1014-1016 1st Ave South, Pioneer Square, Seattle, WA
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