Part 2/12:
One of the most alarming indicators of Washington’s economic decline is the soaring office vacancy rate. According to Commercial Cafe, the Seattle region now holds the highest vacancy rate in the United States at 27.2%. This means roughly a third of office space remains unoccupied, reflective of broader corporate and commercial uncertainties. Interestingly, while some areas with prime, amenity-rich properties still attract tenants, the overall trend points to a market under stress.