Seattle Suburban Office Rents Slip 2.6% to $34.80 as Leasing Jumps 74% and Renton Draws 407,000 SQFT of Deals

Seattle's suburban office landlords are trading rent for occupancy, cutting average asking rates to $34.80 per square foot, roughly $12 below downtown, as year-to-date leasing jumps 74 percent and Renton logs more than 407,000 square feet of deals despite 35 percent vacancy.