Search
 

It Could Be Worse. It Could Be San Francisco

SEATTLE-Average rental rates for class A office space here have slipped 22 percent in the first six months of 2001, according to a new study by Oncor International.

By Gina Binole | Updated on August 03, 2001

SEATTLE-Rental rates for class A office buildings in Seattle’s central business district have slid 22 percent lower in the first six months of the year. The only other city to post a steeper decline during that time was San Francisco, according to a recent report issued by Oncor International.

The study places the average rate in Seattle at $35 per sf, a $10 dip from January’s rates. In San Francisco, the rental rate slipped 28 percent during the same time period, dropping to $55 in mid-2001 from $76 at the end of 2000.

According to the Oncor report, San Francisco used to reign as the country’s most expensive office market. With that city’s rental rate decline, the Silicon Valley jumped ahead in the race, with an average rate of $63 per sf, down from $70 six months ago.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.