X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SEATTLE-Overall vacancy in the Puget Sound rose from 14.81% to 15.72% over the past three months, according to CB Richard Ellis. More than 12.3 million sf is now available, according to the brokerage firm’s just-released third quarter report.

Downtown Seattle experienced the smallest increase in the region, rising from 13.97% to 14.57%. Vacancy in the Downtown CBD dropped from 12.68% to 12.5%, while vacancy in the Downtown Waterfront submarket rose to 22%.

Across Lake Washington, vacancy rates on the Eastside increased from 16.06% to 16.69% in the third quarter, its third straight quarter of only slight increases. Sublease space made up approximately 57% of the Eastside’s vacant space. The Bellevue CBD remains the most vacant submarket on the Eastside at 25.7%.

South of Seattle in the Tacoma-Federal Way area, vacancy rose 5.56 points during the quarter to 16.08% on 175,000 sf of negative absorption, the worst showing in the region. North of Seattle in Snohomish County, overall vacancy dropped slightly, from 21.31% to 21.1%, but retains the highest average vacancy rate in the region.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.