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Seattle Ranks High in Office Rent, Tech Job Growth

Only Charlotte, North Carolina, and New York fared better

Despite the pandemic forcing many to work from home, the tech industry is still a massive force in office leasing in the Seattle area and across the United States.

Seattle ranks No. 3 in the commercial real estate firm CBRE’S annual Tech-30 report, which takes into account office rent growth, net absorption rate and tech industry job growth in the top 30 markets in the U.S. and Canada. Charlotte, North Carolina, is No. 2 and New York City No. 1.

Seattle’s office rent growth was 11.8% between the second quarter of 2018 and the second quarter of 2020. Seattle also saw a 3.7% increase in net absorption for office space. Silicon Valley’s rent growth trailed Seattle’s at 11.6%.

Tech jobs in Seattle have boomed over the past four years, with an almost 22% spike. In Silicon Valley, tech jobs grew 5.2% in the same time period. Just in 2018 and 2019, the tech job force in Seattle jumped by 29.2%.

“Even in a Covid-19 environment, many of our region’s tech firms are continuing to hire and plan future office expansions,” says Tim Owens, CBRE senior vice president. “This bodes well for the Puget Sound office market’s resiliency in the long term.” Read more via SeattleBusinessMagazine

Pemo Theodore

Pemo is a Media Publisher & Event Producer. She is CoFounder/CEO Silicon Valley TV She is the Executive Producer of FinTech Silicon Valley & organizes Bay Area FinTech meetup: Silicon Valley FinTech meetup & Blockchain Music meetup with almost 3k members. She has produced Silicon Valley Events for Investors & Startups 7 years. She video interviews venture capitalists & angel investors & FinTech experts. She partners with videographers to cover San Francisco Bay area startup conferences & meetups with livestreaming, video & foto packages Silicon Valley TV She is based in Silicon Valley & has been involved in online business for 14 years. She has been in small business for 46 years in Ireland, London, Canada & Australia. She also published a free ebook (the findings of 1 year research from VCs, angels & women founders) “Why are Women Funded Less than Men? a crowdsourced conversation” She was TheNextWomen‘s most prolific contributor of 2011. Silicon Valley TV has been noted as a platform for supporting high growth women led companies in Huffington Post

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