Sanjay Bhatt from The Seattle Times reports that it is not just residential rent prices that are increasing, but office space rents as well. In fact, "companies are filling up local office space so fast that rents have reached a new high, surpassing the last peak in early 2008," which aligns with the current residential real estate market in the Seattle area. 

Some companies are choosing to look for space outside the downtown Seattle area, likely because "at the end of June, the rent for premium office space in downtown Seattle was $36.76 a square foot, 7.5 percent higher than a year ago," which impacts affordability for small businesses. 

And it doesn't look like the demand will slow down anytime soon, as "most of it comes from big technology firms that find the region appealing because its tech labor pool is the largest after Silicon Valley and its rents are still cheaper than in Manhattan, San Francisco or London."