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November 16, 2009

As office rates fall, there's a ‘flight to quality'

  • But brokers say don't expect this to lower vacancy near term. Tenants aren't expanding and some are downsizing.
  • By LYNN PORTER
    Journal Real Estate Editor

    Courtesy of Colliers [enlarge]

    Colliers International said downtown Seattle office tenants are starting to move into higher quality space, but a sampling by the firm of 10 major high-rises in the downtown core still shows greater vacancy this quarter than last.


     
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