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SEATTLE, WA-Since the first of the year, more than 1.65 million sf of new, class A office construction was completed in Downtown areas. Of that, more than 1.53 million sf, or 92.7%, was spoken for on opening, absorbed by way of extensive pre-leasing efforts by developers.

So says a third quarter report by the local office of Colliers International.

On the Colliers’ list are 11 Downtown properties that have come on line since January. Seven of them are 100% full, a fortunate state of affairs given a market bearing an 11.14% overall vacancy rate, with 6.19 of those percentage points coming from direct vacancies.

The newly-constructed, fully-occupied properties include Benaroya’s 175,000-sf Metropolitan III in the central business district, the 289,321-sf Opus Center South in the Pioneer Square district, and Quadrant’s 105,000-sf Lake Union-Waterside.

The new property with the least amount of tenants is the Nordstrom office tower by Clise Properties. According to the report, only 85% of its 538,000 sf is occupied. Martin Smith’s 286,000-sf Millennium Tower was 90% occupied.

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