Retail

• At the end of 2009, Seattle’s Center City had approximately 5.1 million square feet of retail space with a vacancy rate of 10%.
  
  
• From 2008 to 2009 retail vacancy rates increased from 5.3% to 10% and lease rates decreased from $35.45 to $30.63.
  
  
• In the Central Business District, the end of 2009 saw the vacancy rate at 14% and average lease rates $43.75.

*For Center City Census Tracts click here

Sources: OfficeSpace.com

Source: OfficeSpace.com

Above neighborhoods: Pioneer Square includes parts of the International District west of Interstate 5. Denny Regrade includes Denny Triangle and Belltown.

Source: OfficeSpace.com

Source: OfficeSpace.com

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The Downtown Seattle Association conducts an annual Street Level Business Inventory in Center City Seattle. It is conducted during the third quarter of each year and focuses on eleven neighborhoods in Center City Seattle. In addition to individual businesses, fourteen larger retail areas with multiple units under one roof are included in the study.

2009 Street Level Retail & Services Inventory:

• Total number of businesses occupied: 4,917
  
  
• Number of restaurants, cafes and bars in Center City: 1,008
  
  
• Number of coffee shops* in Center City: 244
  
  
• Number of arts & cultural businesses (including Art Galleries): 137
  
  
• Number of clothing and accessory shops: 262
  
  
• In 2009, 568 addresses were classified as either vacant or under construction. This is 10 percent of the inventory.
• 21% are located in South Lake Union. This neighborhood experienced an influx of completed construction projects, which would account for current empty street level space.
• The average vacancy / under construction rate in the neighborhoods is 7.6 percent.

2009 locations for the Street Level Retail & Services Inventory - Neighborhoods: Belltown, Central Business District, Denny Triangle, South Lake Union, Uptown, Waterfront, International District, Pioneer Square and parts of SoDo District, Capitol Hill and First Hill. Additional Retail locations: Bay Pavilion, Chandler’s Cove, City Center, Columbia Center, Convention Center, Fisher Plaza, Marion Court, Pacific Place, Pike Place Market, Rainier Square, Seattle Center, Union Square, Uwajimaya Village, & Westlake Center.

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