In downtown Seattle, total office vacancy is now around 35%, according to commercial real estate firm CBRE, and rents are softening. That’s even worse than during the Great Recession, when downtown Seattle office vacancy reached around 21%.
In downtown Seattle, total office vacancy is now around 35%, according to commercial real estate firm CBRE, and rents are softening. That’s even worse than during the Great Recession, when downtown Seattle office vacancy reached around 21%.
I don’t wish the market to full on pop, but a mini pop would be nice. You can’t build, build, build, price fix and then expect to have a nice city that people can or want to live in.