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July 21, 2016

Colliers report sees ‘insatiable demand'

By JOURNAL STAFF

SEATTLE — A quarterly report released Tuesday by Colliers International says that even though 5.6 million square feet is under construction in Seattle, rents will keep rising and vacancies will keep falling.

“Demand for large blocks of space continues to outpace demand for smaller spaces,” the report says. “We anticipate vacancy rates will continue to decline until new construction delivers. Rental rates will likely keep rising, due to the insatiable demand of large technology tenants driving the market.”


 
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