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Q4 2022 Eastside Office Report

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Economic pressures and slow returns to office (RTO) have stymied office market activity on the Eastside. Higher interest rates means that technology companies, who have been responsible for most of the leasing activity over the last cycle, have more expensive cost of funds with which to grow, dampening their appetite for new space. With a competitive employment market, the balance of power has leaned toward employees for the last four-plus years, however this could shift in 2023 depending on how the economic environment advances. Several employers have announced RTO mandates for the end of February, including Snap and Microsoft. 

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Q4 2022 Eastside 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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