With its 2,035,040 sf under construction in the CBD at the end of the year, Seattle has the third-most new market construction in North America. Only Chicago, with 3.7 million sf, and Boston, with 3.55 million, has more CBD projects in the works. The cheapest U.S. rates? Raleigh-Durham NC, at $18.75/sf.
One shadow cast by ONCOR on greater Seattle was the impact of the downward spiral of dot-coms. While the report did not cite specific numbers, it named Seattle among the markets impacted by dot-coms returning space to the market.
ONCOR International is a Washington, D.C.-based organization of privately owned commercial real estate companies offering full-service investor-related services in more than 200 markets worldwide. According to its website (oncorintl.com), it has serviced more than $60 billion of commercial real estate requirements over the past five years.
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