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South King County Vacancy Rate Tops 14%

KENT, WA-In many Puget Sound areas, the buffer to dismal vacancy numbers is that a large portion of space is, in fact, sublease space, with original tenants still paying rent. In the Southend, however, the sting is direct.

By Janet Parker | Updated on October 25, 2001

KENT, WA-Vacancy numbers for office space throughout Puget Sound continue to grow, and the cities of South King County are no exception. According to third-quarter statistics compiled by the Seattle office of Colliers International, the vacancy rate in the county’s south end offices now averages 14.33%.

Included in the survey are the market’s cities of South Seattle, Tukwila, Renton, Kent, Sea-Tac and Federal Way.

By way of percentages, Kent tops the list at 28.64% Of its 1.33 million sf of office product, 379,875 sf is now vacant. The bad news for landlords here is that 377,534 sf — nearly all the space — is direct. The same holds true for Renton, carrying a 15.67% total vacancy rate. Here, only 19,800 sf of the 403,680 total are the result of subleases.

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