Seattle Market Statistics

Seattle Office Vacancy and Rental Rates

Market Num of
Bldgs Total RSF Direct
Vacant Vacancy
Rate Sublease
Available Vacancy
w/Sublet Future
Available Average
Rent Rate YTD
Absorption

Downtown 527 48,215,937 7,500,826 15.56% 1,111,030 17.86% 1,813,531 $27.61 1,409,147

Eastside 765 34,006,710 4,865,725 14.31% 998,234 17.24% 801,841 $27.87 152,223

Northend 363 11,153,185 1,611,770 14.45% 231,529 16.53% 162,300 $22.70 (36,921)

Southend 401 15,249,518 2,746,933 18.01% 335,536 20.21% 598,923 $20.56 (12,264)

Tacoma 187 6,323,491 532,818 8.43% 46,475 9.16% 53,334 $20.06 (76,356)

Grand Total 2,243 114,948,841 17,258,072 15.01% 2,722,804 17.38% 3,429,929 $25.86 1,435,829

Notes - Statistics are based on existing buildings that are available for lease (and do not include owner occupied buildings, government buildings or buildings that are under construction or proposed). Future Available does not include buildings that are under construction. Average Rent Rates are calculated on a full-serviced lease basis, using a weighted average (the bigger the building, the more impact it has on the average). Data is current as of September 2, 2010.

Seattle Industrial/Flex Vacancy and Shell Rates

Market Num of
Bldgs Total
Sq.Ft. Direct
Vacant Vacancy
Rate Sublease
Available Vacancy
w/Sublet Future
Available Average
Shell Rate YTD
Absorption

Downtown 87 2,535,792 508,453 20.05% 0 20.05% 34,675 $0.61 (129,582)

Eastside 685 23,490,118 3,124,260 13.30% 523,964 15.53% 667,701 $0.61 46,479

Northend 365 13,827,061 2,537,556 18.35% 452,898 21.63% 304,031 $0.53 (555,241)

Southend 1,247 73,924,644 9,755,854 13.20% 1,646,921 15.42% 594,802 $0.43 (582,912)

Tacoma 294 22,807,806 4,647,624 20.38% 259,873 21.52% 975,347 $0.36 (135,194)

Grand Total 2,678 136,585,421 20,573,747 15.06% 2,883,656 17.17% 2,576,556 $0.47 (1,356,450)

Notes - Statistics are based on existing buildings that are available for lease (and do not include owner occupied buildings, government buildings or buildings that are under construction or proposed). Future Available does not include buildings that are under construction. Average Shell Rates are calculated on a net lease basis, using a weighted average (the bigger the property, the more impact it has on the average). Data is current as of September 2, 2010.

Seattle Retail Vacancy and Rental Rates

Market Num of
Bldgs Total
Sq.Ft. Direct
Vacant Vacancy
Rate Sublease
Available Vacancy
w/Sublet Future
Available Average
Rent Rate YTD
Absorption

Downtown 154 4,951,901 957,007 19.33% 91,374 21.17% 120,533 $28.62 77,792

Eastside 482 11,642,609 989,875 8.50% 9,868 8.59% 64,404 $28.30 (38,747)

Northend 476 12,790,680 985,860 7.71% 20,698 7.87% 105,244 $20.24 (259,048)

Southend 485 13,970,883 1,534,314 10.98% 20,277 11.13% 198,043 $21.57 (94,042)

Tacoma 344 8,444,454 1,163,278 13.78% 3,810 13.82% 83,601 $20.15 (48,653)

Grand Total 1,941 51,800,527 5,630,334 10.87% 146,027 11.15% 571,825 $23.20 (362,698)

Notes - Statistics are based on existing buildings that are available for lease (and do not include owner occupied buildings, government buildings or buildings that are under construction or proposed). Future Available does not include buildings that are under construction. Average Rent Rates are calculated on a net lease basis, using a weighted average (the bigger the property, the more impact it has on the average). Data is current as of September 2, 2010.