The overwhelming majority of current tenant demand on the Eastside is coming from technology companies. Many technology tenants are looking at the Bellevue CBD as their first choice, but with vacancy down to 7.1 percent and limited large blocks of available space, many are also considering suburban markets on the Eastside.
An additional 1.5 million square feet will be delivered to the Bellevue CBD in the coming year, which will bring much needed supply to the market. This will provide additional opportunities for larger technology tenants to find sufficient space for their growing industry.
Source: JLL Research