Downtown Seattle Office Absorbs 300,000 SQFT, Its First Positive Quarter Since 2021

Downtown Seattle's office market absorbed 300,000 square feet in the third quarter of 2026, its first positive quarter in five years, as law firm renewals, an AI expansion and public-sector commitments nudged vacancy down to 35.4 percent, though thinner leasing, a looming Docusign exit and fire-sale tower trades show how far the recovery still has to run.