A new report has ranked Puget Sound ninth in the top markets with the largest office leases in 2024. The Seattle area ranked #9 and tied with five other markets.

Puget Sound’s three leases totaled 890,816 square feet. In each case, the big lease was signed by a tech company expanding its footprint. The region also claimed three of the largest U.S. office leases in 2024, while nationally, tech companies gained leasing momentum amid growth in artificial intelligence. Tech companies committed to 2.8 million square feet in leases in the Seattle area in 2024, more than triple the next highest sector of financial services.

“Leasing by the tech industry returned in earnest last year with the growth of artificial intelligence, which we expect to gain more momentum this year,” said CBRE’s John R. Miller, executive managing director for the Pacific Northwest and market leader for the greater Seattle region. “Tech is at the start of a new growth cycle, and strong leasing activity from the sector is key to recovery of the office market.”