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Cost Of Office Space In Bellevue Surpasses Prices In Seattle
Bellevue, Wash.
Bellevue is now the 10th-most expensive market in the country for office space, according to the Skyline Report issued by JLL. The average asking price for office space in Bellevue is $46.77/SF.
The average rate for office space in Seattle is lower than Bellevue, coming in at $43.40/SF. For perspective, office space in New York goes for an average asking rate of $93.33/SF.
In terms of vacancy, Puget Sound has the lowest vacancy rate in the country. Seattle has a vacancy rate of 5.7%, followed by Bellevue at 7.6%, Century City/Los Angeles at 8.9%, San Francisco at 9.5% and New York at 9.9%, the Puget Sound Business Journal reports.
Overall, nearly 13% of high-rise office space is vacant across the country.
