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Asking rents continue to climb as availability tightens throughout the market
In the second quarter of 2019, Seattle’s overall average office asking rent reached $38.88 per square foot (psf), a 4.9% increase year over year. Rents in the Central Business District (CBD) submarkets followed a similar upward trend with overall CBD rents increasing 5.0% to $44.28 psf and Class A CBD rents rising 2.6% to $49.91 psf. Rates vary substantially by submarket, ranging from a low of $25.49 psf in the Tacoma submarket, to a high of $45.33 psf in the Downtown Seattle submarket.