Seattle Suburban Office MarketBeat Q1 2026

The Seattle Suburban office market in Q1 2026 experienced rising vacancy at 23.9% and negative net absorption of 79,000 square feet, with overall asking rents declining 2.3% year-over-year to $35.30 per square foot. The market outlook indicates vacancy is expected to remain elevated through 2026 with continued downward rent pressure, though gradual stabilization may emerge in late 2026 into 2027 as new deliveries remain absent and employment growth continues slowly.