Seattle Office Market Data for the First Quarter of 2016
Seattle Office 600 University Street, Suite 2220 Seattle, Washington 98101 Commercial Real Estate Services broderickgroup.com SEATTLE OFFICE MARKET OVERVIEW First Quarter 2016 DOWNTOWN SEATTLE OFFICE MARKET STATISTICS Entire Seattle Market # of buildings w/ 50,000 SF or more of contiguous Total SF: 53,760,829 Qtr Change YTD Change available space within Vacant SF: 3,545,443 each category Vacant %: 6.59% ( -0.52%) ( -0.52%) Asking Rates: $35.36/SF, G ( +$0.00) ( +$0.00) Entire Seattle Market Absorption Qtr: 533,619 SF Absorption YTD: 533,619 SF Class A Buildings 15 Total SF: 34,876,090 Vacant SF: 2,299,700 Qtr Change YTD Change Class A Buildings Vacant %: 6.59% ( -1.03%) ( -1.03%) Asking Rates: $40.28/SF, G ( +$0.41) ( +$0.41) Absorption Qtr: 509,901 SF 10/ Absorption YTD: 509,901 SF 15 Class A CBD Class A CBD Total SF: 18,844,936 Vacant SF: 1,211,539 Qtr Change YTD Change Vacant %: 6.43% ( -1.90%) ( -1.90%) 5/ Asking Rates: $40.66/SF, G ( +$0.59) ( +$0.59) 15 Absorption Qtr: 354,152 SF Absorption YTD: 354,152 SF Class A+* Class A+ * Total SF: 6,102,368 Vacant SF: 408,583 Qtr Change YTD Change 1 / Vacant %: 6.70% ( -1.14%) ( -1.14%) 15 Asking Rates: $44.00/SF, G ( -$0.29) ( -$0.29) Absorption Qtr: 94,307 SF Absorption YTD: 94,307 SF Two Union Square, US Bank Centre, Fourth & Madison, 1201 Third Avenue, * broderickgroup.com | pg. 2 Russell Investments Center, 1918 Eighth, West 8th SEATTLE OFFICE MARKET OVERVIEW First Quarter 2016 SIGNIFICANT LEASES Significant Leases LEASING ACTIVITY Quarter Tenant Building Submarket Size (SF) Significant leases in the Seattle area for the First Quarter were Q1 2016 Google 625 Boren Lake Union 607,000 dominated by technology market movers leasing space in both existing and future space.
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