Acadio Creates More Pioneer Square Availability

SEATTLE-The downtown vacancy and sublease picture continues to receive bad news as dot-com closures continue to create space in popular sections of the city. Acadio Corp., a Seattle online education start-up company, recently closed up shop in Pioneer Square and let go the remaining 60 of its 140 employees.

The company had signed a 10-year, $20 million lease for the 58,000-sf Provident Building last year and renamed it the Acadio Building. However, after initial layoffs occurred, shrinking the need for office space, Acadio was forced to sublease a majority of the 91-year old former warehouse.