Bellevue Office Market in Freefall | Seattle News

Downtown Bellevue’s office market is in freefall, losing over $1.6 billion in value—nearly 20%—despite seven new towers, including the $476 million The Eight. Vacancy rates skyrocketed from 3.3% to over 23% in just seven years, fueled by business uncertainty and stalled investment. Even tech giants like Microsoft are exiting leases, while developers scramble to unload long-held assets. Meanwhile, Seattle’s downtown is even worse, with 37% vacancy and $15 billion wiped off its office market value—46% of its worth—crippling city tax revenue and sparking debate over local policies and business confidence. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/a57c1f3c60c1d5b1