Current and accurate information is essential to formulating and executing the best real estate strategy. Because of our intense focus on the Puget Sound region, our clients can rely on us to know what is happening in the greater Seattle commercial real estate market and all of Western Washington. Our information is gathered with the objective of being specific, practical and timely.
Puget Sound Overview – 3Q 2017 OFFICE, INDUSTRIAL & RETAIL
The Office, Industrial & Retail Market Report provides a comprehensive overview for the market conditions of the Puget Sound Region. Absorption, vacancy rates, rental rates and notable transactions are condensed into a convenient overview of the entire commercial real estate market for Western Washington.
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CLOSE-IN QUARTER REPORTS
Kent Valley Insider – 3Q 2017
In 2010, TIAA paid $30.25 million to acquire a soon to be vacant 459,349 square foot building in Renton. In the subsequent years, their team worked diligently to re-tenant the building with three companies. Seven years later, they cashed in and sold the project, Renton Logistics Center, to Clarion in a highly-contested bid for $67.1 million dollars. The reported cap rate was an unheard of 3.85% and the price per square foot was an unworldly $146. Essentially, they doubled their money in 7 years. Not too shabby a return and a great example of why Seattle remains one of the most sought after industrial locations in the world.
Seattle Industrial Market Report – 3Q 2017
Much like the 2nd quarter of 2017, the 3rd quarter showed no signs of slowing down. Institutions and investors such as Prologis, Torreno, Lift and others continue to scout for new deals to either redevelop or rehab. …