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Q2 2022 Seattle Office Report

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OfficeReport
The forecasted return-to-office after Memorial Day is still slow to materialize, although activity downtown has continued to rise with tourism and entertainment. Office occupancy rates according to building security firm Kastle Systems, which pegged mid-June office occupancy at 44.1%, relative to pre-COVID levels. More foot traffic and increase police activity has made downtown feel safer than earlier in the year, but that has not proven enough to lure workers to commute downtown. Companies eager to cultivate their office culture are still finding the right mix of incentives and amenities to encourage workers to return. Until there is more certainty, it is likely that shorter-term leases will remain common. The exception will be for tenants seeking concessions in the form of free rent or tenant improvement allowances.

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Q2 2022 Seattle Office Report

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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.

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