This graphic from Colliers International shows the vacancies in downtown Bellevue
Courtesy graphic
This graphic from Colliers International shows the vacancies in downtown Bellevue's nine major high-rise office complexes. Light blue represents unoccupied space. From left to right, the buildings are Skyline Tower, Bellevue Place Bank of America, Plaza Center, Civica South Tower, Civica North Tower, One Bellevue Center, City Center Bellevue, Key Center, and Symetra Financial Center.

Bellevue office market holds steady, tops Seattle


November 20, 2009 · 6:15 PM

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The office-vacancy rate for downtown Bellevue was relatively static in the third quarter, holding at 10 percent despite an additional 71,000 square feet of space going back on the market, according to a report from Colliers International.

Seattle fared worse, with its office vacancy rate rising from 13 to 14 percent in the third quarter.

The average asking rates still rose in the central business districts of both cities – by 2 percent in Bellevue and .3 percent in Seattle, according to Colliers.

Bellevue's average asking rate was higher by 20 percent at $37.59 per square foot compared to Seattle at $31.13 per square foot, the Colliers report says.

The Key Center made out worst among Bellevue's nine largest high-rise office complexes, losing an additional 95,120 square feet of occupied space – a 289-percent jump from the second quarter.

The Symetra Financial Center fared best, filling up an additional 2,800 square feet of space to reduce its vacancy rate by 5 percent.

In Seattle, US Bank Centre doubled its vacancy rate as an additional 67,600 square feet of space went unoccupied in the building.

WaMu Tower reduced its vacancy rate by 40 percent by filling 39,900 square feet.

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