• Demand in the Puget Sound industrial market is reaching a fever pitch, with tenants feeling the squeeze during renewals and paying a high price for entry into the bustling local economy.
  • Throughout the Kent Valley, there is over 1.6 million sq. ft. under construction, with almost 40% either pre-leased or build-to-suit.
  • The Tacoma/Fife market finished 2017 on a strong note. Absorption for the quarter was 1.62 million sq. ft., with direct vacancy down 140 bps quarter-over-quarter, to 2.8%.
  • Tenants continue to be interested in the Northend as a more flexible and less expensive alternative to the Eastside, which prompted several developers to start buildings in Q4.