First Quarter 2012 Washington State Commercial Real Estate Market Reports

SEATTLE CBD OFFICE REPORT: Steady employment gains are boosting office demand in the region, and for Seattle CBD, demand continues to be fueled mainly by Amazon.com, helping to drive down the overall vacancy rate to 18.1 % from 19.5% at year-end 2011. Read Q1 CBD Office Report

SEATTLE (SOUTHEND) SUBURBAN OFFICE REPORT: Modest activity in other submarkets help to offset vacancies, but the Southend still logged 23,927 sf of negative overall absorption. Despite negative absorption, the overall vacancy rate actually declined from 21.1% at year-end 2011 to 20.8% in the first quarter. Read Q1 Suburban Office Report

SEATTLE (KENT VALLEY) INDUSTRIAL REPORT: Momenturm that was building in 2011 continued through the first quarter of the year. At 759,748 sf of positive absorption, first quarter had the strongest three-month gain since third quarter 2008. Read Q1 Industrial Report

BELLEVUE OFFICE REPORT: Though leasing activity remained brisk during the first three months of the year (the 554,630 sf of new deals is up 10% from fourth quarter), the flurry of expansions in 2011 slowed a bit for the Eastside office market. Read Q1 Office Report

BELLEVUE INDUSTRIAL REPORT: At 13.9%, the overall vacancy continued to climb in the first quarter of 2012, up from 13.5% at year-end and 12.7% one year ago. Read Q1 Industrial Report