February 24, 2020 Comments Off on Seattle Office Markets Claim 10 Spots on U.S.’s Most Expensive Ranking Views: 753 Seattle & Pacific Northwest News, Seattle News, Top Seattle

Research by Yardi Matrix’s Commercial Café reveals 10 office markets in the greater Seattle region rank among the most expensive in the United States based on 2019 sales transactions. Seattle’s Lake Union neighborhood ranks as the eighth most expensive office submarket in the nation, with an average sales price of $886.61-per-square-foot last year.

In addition to Lake Union, nine other Washington submarkets were included on the list of the 100 most expensive. They included Bellevue at No. 14, the Seattle CBD at No. 23, the I-90 Corridor at No. 27, and Northern Seattle at No. 29. Other Washington office submarkets ranked by Commercial Café included: Kirkland (36); Bremerton/Kitsap County (52); Redmond (56); Pioneer Square (67); and Bothell (86).

California, New York, Massachusetts and Washington state claimed all the slots in the Top 10. The most expensive U.S. office submarket in 2019 was California’s Mountain View – Shoreline in Silicon Valley, with an average price of $1,554-per-square-foot. The Seattle office market overall had an average price of $414-per-square-foot.

*Photo credit Matthew Koczwara, Shutterstock.com

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Tags: Acquisition, Office, Research

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Seattle Office Markets Claim 10 Spots on U.S.’s Most Expensive Ranking

Dennis Kaiser