Office space tightens on Eastside, Seattle

Financial services firm JLL’s research team reported last week that large blocks of available space are getting tough to find in the area.

Financial services firm JLL’s research team reported last week that large blocks of available space are getting tough to find in the area.

So far this year, six office leases of 100,000 square feet or larger have been signed in the greater Seattle Metropolitan area this year. There are currently 19 tenants in the market seeking space options of 100,000 square feet or larger, and just 11 existing blocks of space available.

With the market continuing to strengthen and demand for space high, market fundamentals will continue shifting in favor of landlords and strong rent growth should occur, JLL reported.