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 $1.09 1.3% vacancy down 0.1%, lease rates stable
Seatac $0.73 $0.85 4.6% vacancy up 1.5%, lease rates up $0.01
N. Kent Valley $0.56 $0.83 2.6% vacancy up 0.3%, lease rates up $0.01
S. Kent Valley $0.47 $0.80 3.8% vacancy down 0.1%, lease rates stable
Port of Tacoma/Fife $0.49 $0.80 5.7% vacancy up 0.2%, lease rates stable
Pierce County $0.47 $0.78 4.0% vacancy down 0.8%, lease rates up $0.01
Snohomish County $0.71 $0.95 3.3% vacancy up 0.2%, lease rates stable
Thurston County $0.47 $0.75 2.3% vacancy down 0.1%, lease rates stable
Industrial Sales Pricing in the Puget Sound Region
Market Area 12-Month Volume ($millions) $/SF (avg) Cap Rate (avg) 6-Month Trend
Seattle 334 253 5.7% sales volume down, sales price up, cap rate down
Seatac 61 289 6.9% very few transactions, prices stable, cap rate stable
N. Kent Valley 382 115 6.4% sales volume down, sale price down, cap rate up slightly
S. Kent Valley 139 127 5.1% volume down significantly, sale price stable, cap rate down
Port of Tacoma/Fife 125 172 7.3% volume up, sale price up, cap rate stable
Pierce County 141 99 6.1% volume up, sale price stable, cap rate stable
Snohomish County 110 110 6.0% volume down, sale price down, cap rate down
Thurston County 26 91 8.5% volume up, sale price down, cap rate stable

*The information above is current as of April 27th, 2017 – updated quarterly*