A Measured Start with Continued Optimism Q1 2025

The Eastside office market entered 2025 with a slower pace as large tenant demand softened and leasing activity cooled, particularly in Downtown Bellevue, which continues to face sizable vacancies. However, key lease renewals from Amazon (via WeWork), Salesforce, and eBay reflect a growing return-to-office trend and renewed corporate commitment to the market.

Amazon’s five-day office return policy has boosted foot traffic and local business activity, sparking cautious optimism. While suburban markets remain soft, there’s been an increase in smaller lease transactions under 15,000 SF, signaling early signs of recovery in certain segments. With strong fundamentals and best-in-class inventory, the Eastside remains a top-tier office market, but recovery will require strategic patience amid continued macroeconomic uncertainty.