Q2 2020 Seattle Market Report

In the second quarter of 2020, the Seattle vacancy rate increased to 6.2% from 5.9% in Q1. Q2 net absorption for the Downtown Seattle Office Market was 286,311 SF and there is 3,266,488 SF of office currently under construction. Barriers to remote working have been destroyed now that companies have been forced to work from home and there are many unanswered questions regarding how that will affect demand for space in the future.