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Downtown Seattle

Location
Seattle, WA
Estimated Gross Rent
$75-$100 PSF
Most Desirable Block(s)
Pine Street between 4th & 6th
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Location
Seattle, WA
Estimated Gross Rent
$75-$100 PSF
Most Desirable Block(s)
Pine Street between 4th & 6th

Description

Retail Hub on the Verge of Renewal Downtown Seattle has been a centerpiece of the city’s retail and cultural narrative. Cemented by iconic brands like Nordstrom and Uniqlo, and dynamic destinations such as Pike Place Market and Pacific Place, it remains a critical shopping and tourism corridor. While recent years have brought challenges, including closures like North Face and Lululemon, there’s a wave of revitalization efforts in the works—led by the $66.75 million sale and planned re-tenanting of Pacific Place. The Downtown Seattle Experience Downtown Seattle offers a diverse and very vibrant mix of big-name retailers and unique attractions, creating an ecosystem where locals and visitors alike converge. The area around Pike and Pine Streets has anchors like Nordstrom’s flagship store serving as a cornerstone for retail traffic. Nearby, Pike Place Market offers a Seattle experience, blending artisanal goods with fresh produce and iconic waterfront views. As Pacific Place undergoes its transformation, the location will draw in new brands and invigorate more foot traffic.

Retail Hub on the Verge of Renewal

Downtown Seattle has been a centerpiece of the city’s retail and cultural narrative. Cemented by iconic brands like Nordstrom and Uniqlo, and dynamic destinations such as Pike Place Market and Pacific Place, it remains a critical shopping and tourism corridor. While recent years have brought challenges, including closures like North Face and Lululemon, there’s a wave of revitalization efforts in the works—led by the $66.75 million sale and planned re-tenanting of Pacific Place.

The Downtown Seattle Experience

Downtown Seattle offers a diverse and very vibrant mix of big-name retailers and unique attractions, creating an ecosystem where locals and visito

...Read more
News & Alerts

After more than two decades in downtown Seattle, The Cheesecake Factory will permanently close its 700 Pike St. location on May 4. The decision comes after an extensive review and analysis, according to a spokesperson for the restaurant.

While the busy location has been a staple in the area, the company did not provide specific reasons for the closure but emphasized its appreciation for the Seattle community.

The closure is part of a broader shift in downtown Seattle’s retail and dining landscape, following other high-profile exits, including Starbucks’ closure of its 1st and Pike store near Pike Place Market. Despite this change, Cheesecake Factory will continue to serve Seattle-area guests at its other locations.

3 months ago
1 Seattle Hotel to open in South Lake Union with sustainable luxury focus

1 Seattle Hotel to open in South Lake Union with sustainable luxury focus

4 months ago
Hotel Westland to open in Downtown Seattle this spring

Hotel Westland to open in Downtown Seattle this spring

5 months ago
Local experts
Maria Royer
Maria Royer
Principal
Real Retail
Real Retail
Real Retail
Top brands
AllSaints
AllSaints
1511 5th Avenue
Anthropologie
Anthropologie
1509 5th Avenue
Arcteryx
Arcteryx
401 Pike Street
Ben Bridge Jeweler
Ben Bridge Jeweler
1530 5th Avenue
Club Monaco
Club Monaco
1600 7th Avenue
Dr. Martens
Dr. Martens
1527 4th Avenue
Eileen Fisher
Eileen Fisher
525 Pine Street
Equinox
Equinox
401 Union Square

Local Expert Analysis

Retail Leasing and Market Dynamics Retail rents in Downtown Seattle range between $75 and $100 per square foot. The vacancy rate, currently exceeding 20%, underscores the challenges posed by shifts in office occupancy and the lingering effects of the pandemic. However, the acquisition of Pacific Place by BH Properties and its planned re-tenanting might mark a turning point, attracting national and local brands eager to capitalize on the area’s comeback. The city’s efforts to support small businesses through initiatives like Seattle Restored add another layer of optimism. Customer Demographics and Foot Traffic The downtown core attracts a mix of high-income professionals, tourists, and event-goers, creating a broad customer base for retailers to engage with. While office worker presence has only recovered to about 52% of pre-pandemic levels, the return of tourists and large-scale events, such as conventions and sporting matches, has bolstered foot traffic. Key anchors like Nordstrom and Pike Place Market continue to serve as magnets, ensuring a steady flow of visitors to nearby shops and restaurants. Future Trends The revitalization of Pacific Place is at the heart of Downtown Seattle’s retail resurgence. Plans for the center aim to attract a diverse mix of retailers, restoring its status as a downtown anchor. Meanwhile, city-led investments, including the expanded convention center and waterfront enhancements, are expected to further boost foot traffic and retail interest. Conclusion Downtown Seattle is on the edge of a pivotal moment, balancing the weight of its issues and challenges with the promise of renewal. With a robust mix of retail, dining, and cultural attractions, it remains a key player in the city’s economic and social fabric. For retailers, the district offers a chance to tap into a recovering market with strong tourist appeal and a steadily improving local base.

Retail Leasing and Market Dynamics

Retail rents in Downtown Seattle range between $75 and $100 per square foot. The vacancy rate, currently exceeding 20%, underscores the challenges posed by shifts in office occupancy and the lingering effects of the pandemic. However, the acquisition of Pacific Place by BH Properties and its planned re-tenanting might mark a turning point, attracting national and local brands eager to capitalize on the area’s comeback. The city’s efforts to support small businesses through initiatives like Seattle Restored add another layer of optimism.

Customer Demographics and Foot Traffic

The downtown core attracts a mix of high-income professionals, tourists, and eve

...Read more

New Developments

As Pacific Place redefines its role in the downtown ecosystem and major investments continue to enhance the area, Downtown Seattle is on the path to recovery. The next 12 months will see gradual improvements in leasing activity, as retailers recognize the opportunity to secure prime locations at a time of transformation. For brands looking to make a statement in a market poised for a comeback, Downtown Seattle offers both challenge and promise—a chance to be part of the city’s next chapter.

Coming soon
Equinox
Equinox
401 Union Square
Recent closings
Himali
Himali
400 Pike Street
The North Face
The North Face
520 Pike Street
lululemon
lululemon
600 Pine Street