Seattle Times


It hadn't topped 20% before in the 22 years the firm has beentracking the market, according to the Seattle Times. Grubb& Ellis pegged the fourth-quarter rate at 18.9%. ColliersInternational said it was 17.6%.


Whatever the number, all brokerage firms agreed that emptyoffice space increased between 2 and 3 percentage points from theprevious quarter. And all agreed the rate has nearly doubled overthe past year, driving down what landlords are charging tenants fornew leases.


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