Seattle’s situation may change once Amazon starts enforcing their full-time return-to-office policy in 2025. I expect other companies will follow suit. Though in the mean time there is more room for the office market to fall; another Seattle Times article from August mentioned:

Seattle’s downtown is now second only to San Francisco’s for risk of office loan foreclosures, according to a recent analysis by Kaplan Group, a debt collection firm, which warns that high-risk cities “could see a wave of loan defaults or even localized fire sales.”

I would love to see some of that empty office space convert to other uses. Every city’s office/retail core feels soulless if nobody lives there, or even has a reason to go there after 5pm.