Skip to main content Skip to footer

Q1 2021 Eastside Submarket Office Report

Download Report
Bellevue_SkylineBanner_Thumb
Since the COVID-19 pandemic began, there has been over 3 million sq. ft. of leasing activity (signed deals, but not yet occupied) on the Eastside. It is worth noting that a majority of this activity has been with two companies: Amazon and Facebook. With a momentary reprieve from below-3% vacancy, opportunistic companies are looking to take advantage of built-out sublease spaces, although rental discounts vary, making the economics of each deal unique. After 410,000 sq. ft. of negative net absorption, vacancy increased 120 basis points from 7.7% in Q4 2020 to 8.9% in Q1 2021. 

Bellevue_SkylineBanner_Thumb

Q1 2021 Eastside Submarket Office Report

Download Report
Related Experts

Jacob Pavlik

Research Manager

Seattle

Jacob Pavlik joins the Colliers team after working in the Economic Development and Planning departments for the cities of Hillsboro, Oregon and Alexandria, Virginia, respectively.  At Colliers, he leads a team of researchers to  collect, analyze, and synthesize market data for Puget Sound and Portland. He loves the challenge of taking complex data and making it easily digestible for a wide audience. He assists brokers with research specific to their client's needs, including geovisualizatoin and micromarket analysis.

His authentic passion for commercial real estate is seen most clearly when Jacob explores his local urban ecosystem and travels to new cities around the world to see how they function and relate to each other. He likes to see the built environment adapt to the changing needs, desires, and behaviors of the people who populate it. These functions fit perfectly into Jacob's role as Research Manager, telling the story of how commercial real estate in the Pacific Northwest evolves over time.

View expert