Yale Campus South includes Bright Horizons childcare center and a new AMLI apartment complex breaking ground in the first quarter of 2012. “The synergy in the South Lake Union market is extraordinary. The wide range of businesses that call the area home conveys a true sense of community,” Ottele says in a prepared statement. “Yale Campus has space available right now for those firms who want to be a part of the experience, and could quickly provide a new location for a firm who wants to benefit from the proximity,” he adds.

According to an office report by Grubb & Ellis, Seattle’s office market is improving…slowly and steadily. “With three quarters of the year in the rearview mirror, today’s Seattle-area office market plainly remains tenant-favorable, as evidenced by its elevated vacancy rate and near-empty construction pipeline. Even with economic conditions improving slightly in the past year, new construction projects exist largely as developer dinner-talk. Nevertheless, landlords are slowly regaining their bargaining power; a vacancy rate that has receded by 3.1 percentage points in the last 18 months serves as verification. Tenants may still take advantage of concessions given the considerable vacancies that linger, but barring a double-dip recession, asking rents throughout the area have already hit bottom with higher-end, class A product climbing again.”