Real estate brokers in Bellevue, Washington, are optimistic about Amazon's new in-office policy requiring employees to work in the office five days a week.
The policy is seen as a catalyst for other companies wanting to return to the office, boosting the outlook for real estate developers and brokers in the aftermath of the pandemic.
Office vacancies in downtown Bellevue have risen from 3.2% in 2019 to 16.6%, but Amazon's expansion in the area is expected to bring back employees and revive the market.
While Microsoft is downsizing its office space in downtown Bellevue, other tech companies like OpenAI, Snowflake, ByteDance, and Pokémon are filling the void.