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Market Insight

Eastside Market Snapshot Q4 2023

Positive momentum and optimism are growing as we turn to 2024. After a painfully sluggish start to the year, tenant demand has reemerged and there are approximately 1M SF of leases pending. Is a soft landing in store? That may be the case for downtown Bellevue. Nearly all of the pending leases are concentrated in the Bellevue CBD, which by no coincidence offers amenity and transit-rich Class A office space, often with striking views. We are now witnessing firsthand a flight to quality by tenants in the Bellevue CBD.

17.5% Vacancy
41,703,176 Total SF
7,280,497 Vacant SF
Q4 2023 Eastside Market Snapshot
Puget Sound Commercial Real Estate Market Insight