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Seattle/Bellevue MarketBeat Reports

Daniel Ochs • 10/16/2020
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

 

Learn more about our local markets and property types by clicking our most recent Seattle-Bellevuew MarketBeat reports below.


Upon the arrival of COVID-19 in the U.S., the economy entered a recession in March 2020, recording the worst decline in post-war history in Q2 2020. Mounting evidence indicates that the recovery began in May or June with Q3 2020 data likely reflecting that. But, until there is a public health resolution to the pandemic, the recovery is likely to remain uncertain and gradual. Only then can households and businesses become more confident.

Current Marketbeats

Office MarketBeat Report
Q3 2020 Seattle CBD Office Report

COVID-19 was substantially responsible for flooding the Seattle CBD with new sublease space. In the third quarter of 2020, 494,000 square feet (sf) of vacant sublease space was added to the market, a 194% increase from the first quarter, taking the total up to 1,240,000 sf available.

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Office MarketBeat Report
Q3 2020 Seattle Suburban Office Report

Seattle Suburban sublease space increased over 100% in the second quarter but it decreased by 13,000 square feet in the third quarter of 2020.

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Office MarketBeat Report
Q3 2020 Puget Sound Office Report

Puget Sound-Eastside had a significant increase in sublease space in the third quarter of 2020, climbing by 303,000 square feet (sf), a 100% jump from the second quarter to 604,000 sf available. Overall absorption for the third quarter finished at negative 522,000 sf.

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Industrial MarketBeat Report
Q3 2020 Seattle Industrial Report

The Seattle industrial market asking rents, after a slight decline during 2019, have reversed course and started to climb again, ending the third quarter with an average asking rent of $0.77 per square foot (psf) on a monthly triple net basis, a YOY increase of 2.6% (+$0.02). 

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Industrial MarketBeat Report
Q3 2020 Puget Sound Industrial Report

The Puget Sound- Eastside industrial market asking rents have continued to rise, ending the third quarter at $1.33 per square foot (psf) on a monthly triple net basis, a YOY increase of 36% (+$0.35). 

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Featured Insights: Current U.S. MarketBeats

Q3 U.S. Office MarketBeat Report Card Image
MarketBeat • Office

Office Reports

Cushman & Wakefield MarketBeat reports analyze quarterly commercial real estate activity including supply, demand and pricing trends.
Kenneth McCarthy • 10/14/2020
Q3 U.S. MarketBeat Industrial Report Web Card Image
MarketBeat • Industrial

Industrial Reports

Cushman & Wakefield MarketBeat reports analyze quarterly commercial real estate activity including supply, demand and pricing trends.
Jason Tolliver • 10/8/2020
Q3 U.S. Retail MarketBeat Report Card Image
MarketBeat • Retail

Shopping Center Reports

Cushman & Wakefield MarketBeat reports analyze quarterly commercial real estate activity including supply, demand and pricing trends.
Garrick Brown • 10/14/2020

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