When Boeing's material-buying unit vacated the Quadrant Center's 295,000 sf of office space, Lynwood's office-vacancy rate ballooned from 10% to 23% almost overnight. While area tenants pay $15/sf- $20/sf – significantly lower than the Seattle and Bellevue range of $35/sf – it's going to take some time to fill the space.
However, local officials say the economic impact of the Boeing decision has not yet hit – and the affect could be minimal. They contend the demand for smaller spaces in outlying areas will continue to be a draw, given the higher rents downtown. The 5,000-9,000-sf space continues to be popular and clients have some attractive choices.
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