Seattle Commercial Real Estate: Small Office Spaces Filling Up

Three Pioneer Square Buildings Sold for $19MAccording to a Seattle Times real estate article, Seattle commercial real estate is experiencing lower vacancy rates and increasing rents. The expected decline in office vacancies is expected to continue, a good sign signaling an upturn in the economy. However, speculative office building isn’t expected to happen unless there is a big-name tenant, like Amazon, to commit to the space. So, if a company wants 50,000 square feet, there isn’t much in terms of current inventory. Currently, Class A office space is $32.98/sq.ft in Seattle, and $31.38/sq.ft in Bellevue. Read the article for more details.