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What Does the Crystal Ball Show Seattle Office Tenants?
A roundtable discussion, “What Office Tenants Need to Know for 2021 And Beyond” looked at the Greater Seattle/Bellevue commercial real estate marketplace, including considerations tied to owners, brokers, developers and analysts. This roundtable featured leadership perspectives from prominent Seattle-area CRE firms including Hughes Marino, Savills, Broderick Group, SECO, CoStar, WeWork and the hosts from ExtraSlice, a corporate real estate technology and flexible workspace platform.
The discussion provided a comprehensive look at all the dynamics in play today, focusing on what office tenants should consider as they return to the marketplace this year and beyond.
The Seattle office market has experienced softening demand due to the pandemic and the subsequent work-from-home effect, which has resulted in lower leasing activity and an onslaught of sublet availabilities. While adverse for landlords and developers, the shift provides opportunities for companies looking to move up in class as tenants have more leverage, according to Jared Kadry, senior market analyst, CoStar Group.
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