Projections for the 2021 Seattle Office Market

We were 67% correct on last year's assumptions. Not bad for a pandemic year! Click here to see the details!

Below are our predictions for the 2021 Seattle Office Market:

1. 4 out of 5 of the largest lease transactions in 2021 will be subleases.

2. Labor Day will see 50% of the labor force back in the office and by January 2022, we will see 75% of the labor force return.

The return to the office will be driven by kids being allowed back in schools. This will be a transition period where companies find their “new normal” for office use.

3. Amazon, Facebook, and Google will expand BUT not in Seattle.

Bellevue, Bothell, or South End will be their focus.

4. Biotech will be the new darling.

We project 3+ acquisitions by Larger REITS where they convert office to life science.

5. Co-working will continue to consolidate with subleases and early terminations. No new direct co-working leases will be signed in 2021.

Our team is always here to chat through this further, discuss best practices or outline your firm’s position as it relates to the market. Contact us if we can ever be a resource.