Puget Sound Industrial Market Update
Niko Raptis
Via the Puget Sound Business Journal. "Premiums for new industrial leases in U.S port markets soared in the last year, with Seattle seeing the second-highest spread in the country."
Via the Puget Sound Business Journal. "Premiums for new industrial leases in U.S port markets soared in the last year, with Seattle seeing the second-highest spread in the country. The average asking rent for industrial space in the Greater Seattle area, at $8.97 per square foot, was up 5.7% year over year in August, compared with a national increase of 3.8%. This also suggests the increase of sales prices for industrial buildings. At $200 a foot in the Puget Sound area for industrial building prices, the only areas that have higher prices are Bay Area, Los Angeles, and Orange County."
This article is spot on. We are seeing a huge demand for industrial space. Great investment to put your dollars. We have clients clearing out unused or underutilized space for light industrial use and or expanding to take advantage of the market. Searching for a great industrial building ? There is good inventory on the market.
Interested in learning more? Contact us with any questions or comments. Our team to ready to assist you in the purchase and management of your commercial property.
Read More at : https://www.bizjournals.com/seattle/news/2021/09/29/puget-sounds-industrial-market-continues-strong.html
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