On the subject of commercial real estate on the Eastside in 2023 so far, real estate company Colliers International kept it simple: Things are off to a slow start.
Commercial real estate firm Kidder Mathews was more optimistic in its latest report about Snohomish County. Given its affordability compared to other Puget Sound submarkets (rent there, for instance, is on average $28.94 per square foot, compared to Seattle’s $40.26) and future light rail connectivity, there likely will be a bump in commercial real estate activity down the road. The county had 41 office lease transactions in the first quarter.
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