Report | Seattle Bellevue Law Firm Outlook - 2015
Seattle law firms are facing increasing competition in the CBD from high-tech companies, specifically for premier and Class A space.
Overall area vacancy rates continue to decline, although several major construction projects are on the horizon in the Seattle and Bellevue CBDs that will bring more than 3.7 million square feet of property to the market.
Projections have conditions in the market returning to neutral beginning in 2018, following two more years of ladlord favorability, including a forecasted 6 percent average rental rate hike over the next 12 months.
Our local Law Firm Perspective provides a thorough overview of the Seattle-Bellevue market to help you better shape your strategy. We explore conditions across Seattle and Bellevue’s submarkets, from rental rates—including premiums for Trophy space and discounts for Class B space—to demand among professional and business services firms.
(Click here to see an overview of 2015 national law firm trends and market comparisons.)
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