1. Puget Sound Area, Office
MarketView Quick Stats
Q4 2012 CBRE Global Research and Consulting
Class A Avg. Class A Avg.
Asking Direct Asking Total Last 4
Building Total Lease Rate Lease Rate 4Q Net Qtrs Net Under
Submarket SF Vacancy % (Full Service PSF/Yr) (Full Service PSF/Yr) Absorption Absorption Construction
Downtown Seattle 43,693,219 14.3% $32.29 $31.41 588,497 1,929,083 300,955
Seattle Close-In 5,113,527 16.4% $24.83 $24.83 167,071 467,415 155,000
Southend 9,791,487 20.5% $22.04 $21.42 94,740 88,346 —
Eastside 30,398,126 13.6% $29.13 $28.36 56,452 595,406 19,000
Northend 4,538,718 22.7% $23.71 $23.68 (22,527) (9,925) —
Tacoma/Fife 4,762,704 18.8% $23.96 $25.81 43,944 58,011 —
Market Total 98,297,781 15.4% $29.36 $28.55 928,177 3,128,336 474,955
Total Vacancy Rate 15.41%
Total Vacancy vs. Average Direct Asking Lease Rate Total Class A Avg. Asking Rental Rate $28.55
20%
$30.00
18%
16% $25.00
14%
12% $20.00
10% $15.00
8%
6% $10.00
4%
$5.00
2%
0% $0.00
2007 2008 2009 2010 2011 2012
Downtown $31.41 Northend $23.68
Total Asking Seattle Close-In $24.83 Tacoma/Fife $25.81 Under Construction, Absorption Total Absorption 928,177
Regional Avg. Construction Completions 431,690
Rental Rates Southend
Eastside
$21.42
$28.36
$28.55
& Construction Completions Under Construction 474,955
$32.00 1,000,000
900,000
$30.00
800,000
700,000
$28.00
600,000
$26.00 500,000
400,000
$24.00
300,000
$22.00 200,000
100,000
$20.00 0
3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12
1420 Fifth Avenue | Suite 1700 10885 NE 4th Street | Suite 500 1201 Pacific Avenue | Suite 1502
Seattle, WA 98101 | 206.292.1600 Bellevue, WA 98004 | 425.455.8500 Tacoma, WA 98402 | 253.572.6355
Information contained herein, including projections, has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation
about it. It is your responsibility to confirm independently its accuracy and completeness. This information is presented exclusively for use by CBRE clients and professionals and all rights to the material are reserved and
cannot be reproduced without prior written permission of the CBRE Global Chief Economist. cjm 01-16-13