Search
 

Emerald City: 33rd Largest Real Estate Market, 5th Highest Downtown Rental Rate

SEATTLE, WA-While its size only merits a ranking of 33rd among the largest real estate markets in the U.S., Seattle's year-end 2000 figures indicate, at least for now, a growing, low-vacancy market.

By Janet Parker | Updated on January 15, 2001

SEATTLE, WA-According to ONCOR International’s Year-End 2000 Office Market Report, Seattle is only the 33rd largest real estate market in the U.S., but its vacancy rates are the lowest in the nation at 1.79%. ONCOR ranked Seattle’s (average) central business district rental rate of $45/sf at 5th in the nation, while San Francisco garnered the honor for most-expensive downtown rents at $70/sf.

With its 2,035,040 sf under construction in the CBD at the end of the year, Seattle has the third-most new market construction in North America. Only Chicago, with 3.7 million sf, and Boston, with 3.55 million, has more CBD projects in the works. The cheapest U.S. rates? Raleigh-Durham NC, at $18.75/sf.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.