Compliments of Jason Smith of Kidder Mathews, attached is a Seattle-area office real estate market review for Q1 2016. Here is a short summary:
- General leasing activity improved significantly outside of the Seattle and Bellevue central business districts (CBDs), which had led the region coming out of the recession.
- Regional first quarter absorption was just over 670,000 s.f., a bit off the 2015 pace, but well above the previous ten years; this left the regional vacancy at 7.87%.
- Rental rates continue to move up at a steady but modest rate,
Continue Reading Seattle Office Real Estate Market Review for Q1 2016