Office Demand in Seattle Suddenly Back and Bigger Than Ever

The fortunes of commercial real estate in Seattle have completely reversed since February, according to a new analysis.

2 minute read

May 10, 2021, 10:00 AM PDT

By James Brasuell @CasualBrasuell


Mount Rainier

CK Foto / Shutterstock

Gene Balk shares news of a sudden recovery in office demand in Seattle.

Before the pandemic, Seattle was home to a booming tech industry and was consistently ranked among the fastest growing cities in the United States. As recently as February 2021, Balk was writing about the catastrophic collapse of demand for office spaces. But since then, demand has come roaring back, according to the Office Demand Index produced by VTS, the New York-based company that provides leasing and asset management software for commercial real estate landlords.

"From 2018 to 2019, Seattle had an average monthly index score of 90. That, of course, was before the pandemic had closed down offices, requiring millions of employees to work from home. By December 2020, Seattle’s index number had plummeted to a dismal 17," writes Balk. "But in 2021, Seattle has experienced a tremendous rebound, with interest in new office space growing each month. As of March, the index for interest in office space had shot past the pre-pandemic average, hitting 107."

According to researchers at VTS, the sudden shift is the result of pent-up demand and companies seeing the light at the end of the tunnel and working to get a jump on the market. There's another big caveat among he data shared by VTS: office space leasing for the tech industry is still far slower than pre-pandemic levels. "But a surge in interest in office space from other major industries in Seattle — health care, legal and professional services — has made up for that."

Monday, May 3, 2021 in The Seattle Times

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Cover CM Credits, Earn Certificates, Push Your Career Forward

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

July 16, 2025 - Diana Ionescu

Green vintage Chicago streetcar from the 1940s parked at the Illinois Railroad Museum in 1988.

Chicago’s Ghost Rails

Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.

July 13, 2025 - WTTV

Blue and silver Amtrak train with vibrant green and yellow foliage in background.

Amtrak Cutting Jobs, Funding to High-Speed Rail

The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.

July 14, 2025 - Smart Cities Dive

Worker in yellow safety vest and hard hat looks up at servers in data center.

Ohio Forces Data Centers to Prepay for Power

Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.

July 18 - Inside Climate News

Former MARTA CEO Collie Greenwood standing in front of MARTA HQ with blurred MARTA sign visible in background.

MARTA CEO Steps Down Amid Citizenship Concerns

MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.

July 18 - WABE

Rendering of proposed protected bikeway in Santa Clara, California.

Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant

A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.

July 17 - San José Spotlight