Market Stats

The industrial lease rates and sales prices below are market averages calculated by compiling market research data, recent sale and lease transactions, and general market statistics tracked through CoStar, Commercial Brokers Association, and various industry groups.  For more detail, or for questions about a specific transaction and/or sub-markets, please contact us.

Industrial Lease Rates in the Puget Sound Region (NNN, 10,000sf and up)
Market Area Shell Office Vacancy 6-Month Trend
Seattle $0.95 $1.10 1.4% vacancy up 0.1%, lease rates stable
Seatac $0.73 $0.85 0.8% vacancy down significantly, lease rates up $0.01
N. Kent Valley $0.58 $0.83 3.1% vacancy up 0.3%, lease rates up $0.02
S. Kent Valley $0.48 $0.82 4.0% vacancy up 0.2%, lease rates stable
Port of Tacoma/Fife $0.49 $0.80 3.4% vacancy down 1.1%, lease rates stable
Pierce County $0.52 $0.79 4.9% vacancy up 0.8%, lease rates up $0.04
Snohomish County $0.72 $0.95 3.1% vacancy down 0.1%, lease rates up $0.01
Thurston County $0.45 $0.75 8.3% vacancy up significantly, lease rates down
Industrial Sales Pricing in the Puget Sound Region
Market Area 12-Month Volume ($millions) $/SF (avg) Cap Rate (avg) 6-Month Trend
Seattle 340 268 5.8% sales volume up, sales prices up, cap rate stable
Seatac 61 289 6.9% very few transactions, prices stable, cap rate stable
N. Kent Valley 431 113 6.4% sales volume up significantly, sale price stable, cap rate stable
S. Kent Valley 84 123 5.1% volume down significantly, sale price stable, cap rate stable
Port of Tacoma/Fife 55 94 8.8% very few transactions, sale price down, cap rate up
Pierce County 107 82 7.4% volume down significantly, sale price down, cap rate up
Snohomish County 128 110 6.2% volume up, sale price stable, cap rate up slightly
Thurston County 24 73 93% volume down, few transactions, sale price down, cap rate stable

*The information above is current as of June 29th, 2017 – updated quarterly*