According to the research, total vacancies have blown a 3.26-million-sf hole in the Eastside's 26.3-million-sf market—translating to an average 11.9% rate, including subleases. Kirkland's 1.96 million sf of office space remains the Eastside's tightest at 94.9% occupancy. Bellevue's Central Business District, however, escalated to an astounding 19% vacancy.

Downtown's 5.06 million sf of office product has been thrashed by an exodus of high-tech companies. Grubb & Ellis says last year Onyx Software became Bellevue's largest tenant with its lease of 260,000 sf at One Twelfth @ Twelfth. That space now ranks highest on the infamous list of those now standing empty.

While the report does not distinguish between direct and sublease, it does say Downtown is now plagued with just less than one million sf of vacancies. The third quarter compounded the CBD's problem, piling on another 288,257 sf of negative absorption—more than 85% of the year-to-date total negative absorption of 329,512 sf.