The Puget Sound office market posted its strongest quarter of leasing activity since 2019, signaling renewed confidence among tenants even as vacancy held at 17.2%. Average asking rents rose to $40.33/SF Full Service, while sales averaged $425/SF with cap rates up to 7.2%. Notably, the sale of 15550 NE Turing Street was the largest stabilized office trade of the year, and the recent $77/SF sale of 2601 Elliott Avenue could become the largest office-to-residential conversion in the Seattle market, underscoring how investors are pursuing both stability and adaptive reuse opportunities.