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Market Insight

Eastside Market Snapshot Q3 2023

It may be the early weeks of fall in the Pacific Northwest, but it feels like spring when it comes to tenant demand. Over the last 60 days, the Eastside has experienced an eruption of tenant demand, focused primarily in the Bellevue CBD. There are over 20 requirements from tenants needing a full floor or greater in downtown Bellevue. These range from renewals, to existing Bellevue tenant expansions, to relocation from Seattle, to new tenants planting a flag from out of state. The tenant demand is much-welcomed after nearly two years of tepid activity.

14.00% Vacancy
40,032,628 Total SF
5,602,827 Vacant SF
Puget Sound Commercial Real Estate Market Insight