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Seattle Office Market Report

3rd Quarter 2019

Posted In — Market Research | Market Report

The Puget Sound office market saw continued strong office metrics this quarter with vacancy increasing slightly from last quarter’s 10-year low mark of 5.79%, to 5.99% currently. After 4.1M s.f. of net absorption during 2Q 2019, the market absorbed an additional 1.3M+ s.f. over the last quarter bringing the year-to-date net absorption total to a healthy 4.6M s.f. Cranes remain active in both Seattle and Bellevue with developers continuing to position for new construction in both the Seattle and Bellevue CBDs.

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