The office space market is facing a new reality in 2024: lower demand and a need for adaptation. While new construction shrunk by 28% compared to last year with 97 million square feet currently under development nationwide, there’s an interesting twist: Cities are responding by converting unused offices into other uses, such as housing.
In the middle of Amazon’s central campus in downtown Seattle are three orbicular structures filled with more than 40,000 plants that create a unique space for employees to gather, work and collaborate. They provide what the company says is often missing from a traditional workspace – a direct link to nature.
What was once 36 acres of warehouses (including a former cold storage warehouse where Amazon beta-tested their Amazon Fresh home grocery delivery service) and surface parking has been transformed into the newest urban neighborhood in Bellevue, Washington: the Spring District.
The slow recovery of the U.S. economy continues to have an impact on the office market in Seattle as well as across the county. Despite steady job growth and moderate economic recovery gains during the first half of 2023, the Puget Sound regional economy is still struggling and will face continued headwinds during the near term, bringing an enduring sense of uncertainty and concern.
Rising sea levels, worsening storms, heightened seismic concerns and other environmental threats have presented the commercial real estate industry with
Demand for retail properties has taken quite the hit in the wake of rapid e-commerce growth. Companies like Amazon continue
There are still some legal maneuverings underway, but the city of Seattle has walked back plans to impose a steep
As long as you don’t mind cloudy or rainy days – Seattle has more than 200 days on average each
What’s old is new again. Amazon brings that adage to life as it opens … gulp, a bookstore? That’s right,
Which city has the Best Office Market in America? Our distinguished panel of commercial office property professionals took the stage
