Commercial Real Estate
Seattles Suburban Office-Leasing Market Contracts Slightly in Q2
The quarterly results, however, are skewed by one project as the longer-term prospects remain robust
The Seattle suburban office market recorded an uptick in the overall vacancy rate as well as rent in the second quarter, driven primarily by the completion of the Southport office campus in Renton, which came online fully vacant and with high rent, according to the latest market assessment by Cushman & Wakefield. Overall in the…
Seattle Tops the Charts in Q2 Among the Nations Leading Office Markets
The city led the way in space absorbed, driven by robust tech-firm leasing activity
Seattle turned in the best performance this past second quarter among the top 10 office markets in the nation, with the biggest drop in vacancy and the largest volume of space absorbed, driven mainly by major tech-company leases, a report by Colliers International shows. The citys office vacancy rate dropped by 1 percentage point, to…
Big Changes Are in Store for Seattle’s Uptown Neighborhood
The growth of Seattles tech community is spilling into Uptown, changing its character and creating opportunities for development
GROWTH AHEAD. A number of construction projects are underway in Seattle’s Uptown neighborhood, aka Lower Queen Anne, with some 10 new development projects slated for completion this year.
Why Amazons Bellevue Plans Benefit Seattle
Dont misread companys Eastside focus
Whats good for Bellevue is good for Seattle. Whats good for Seattle is good for Kent. You get the point. Whenever a company moves to or expands in a particular city in the greater Puget Sound region, the entire area wins. Theres been a lot of hand-wringing over Amazons decision to focus its growth in…
Office Tower 901 Fifth in Downtown Seattle Has a new Owner
New York investment firm Vanbarton purchased the property as part of an expansion into the Seattle market
The downtown Seattle office tower 901 Fifth, which is anchored by tenants Pitchbook and Cray Inc., has been sold to the New York real estate investment firm Vanbarton Group for $305 million. Vanbarton purchased the 41-story, 541,190-square-foot office property located at Fifth Avenue and Madison Street from Schnitzer West and real estate investment firm Investcorp….
Downtown Seattle Land Sale Sets the Stage for Twin-Tower Condo Development
Canadian developer Concord Pacific will team with Seattle developer HB Management to bring the project to life
A half-block parcel in downtown Seattle adjacent to Amazons headquarters has been purchased for $60 million by Canadian developer Concord Pacific, which plans to develop two 45-story condo towers featuring some 900 units. The parcel was sold by HB Management, a local multifamily project developer and manager. It will remain as a joint venture partner…
Amazon Pumps Up Bellevue Office Market
The vacancy rate is lower than in Seattle
Thanks largely to Amazons commitment to lease nearly 1.5 million square feet of space in Bellevue, the office vacancy rate on the Eastside has fallen to 6.4 percent. A report by Marcus & Millichap says a lack of available space is still prevalent even though numerous buildings opened across the region during the second quarter…
Escalating Homelessness Woes Prompt Cancellation of Olympia Condo Project
Other cities around the country, including Seattle, are also coping with business disruptions due to rising homelessness
The Percival condo project planned for downtown Olympia has been cancelled, with the developer citing the “social climate” in the state capital’s downtown as a major contributing factor to the project’s demise.