Archive for the ‘WASHINGTON QUARTERLY REPORTS’ Category:

May
5
Demand for Seattle and Eastside Industrial Space Outpaces Supply in Q1 2016

industrial

SEATTLE, May 4, 2016 – The industrial sector in Seattle (Kent Valley) and Eastside markets saw high demand first quarter 2016, spurred particularly by the high tech industry according to the latest industrial market reports from Cushman & Wakefield/Commerce.

May
5
Tight Puget Sound Office Market Looking Forward to New Office Inventory

office

SEATTLE, May 4, 2016 – The latest report from Cushman & Wakefield/Commerce shows an increase in business growth throughout Seattle’s office market as vacancy rates decreases. The firm released its first quarter Marketbeat Snapshot report detailing the Seattle and Puget Sound Eastside areas’ office markets.

Nov
19
Bellevue Office Market Improves Through Third Quarter 2015

New Picture - Copy

SEATTLE, Nov. 19, 2015 – The latest report from Cushman & Wakefield/Commerce shows Bellevue central business district (CBD) vacancy improving as rates continued to drop throughout third quarter. Fourth quarter should experience even lower vacancy.

Nov
18
Bellevue Industrial Market Reaches Lowest Rate in Vacancy Since the Recession

New Picture

SEATTLE, Nov. 18, 2015 – The latest research from Cushman & Wakefield/Commerce shows a strong third quarter for the Bellevue industrial market as vacancy numbers continued to drop.

Oct
28
Greater Seattle Office Market Stays Strong through Third Quarter

SEATTLE ─ October 28, 2015 ─ According to the latest research from Cushman & Wakefield | Commerce, activity in the Seattle central business district (CBD) office market continued to be very strong in third quarter with vacancy numbers dropping, showing promise for a strong fourth quarter.

May
15
2015 Q1 MarketBeat Bellevue Industrial Snapshot: Upward Pressure on Rents Expected as Vacancy Continues to Slide Down

bellevueindustrial

The Eastside industrial market started the year with positive, if mild, improvement, with a combined 487,121 square feet of leasing activity. Across all submarkets, the overall vacancy rate declined by 1.1 percentage point on a year-over-year basis. The Woodinville/522 Corridor and Bothell submarkets led the way with year-to-date leasing activity of 169,224 square feet and 89,388 square feet, respectively.

May
15
2015 Q1 MarketBead Seattle Industrial Snapshot: Industrial Developers Will Continue to Bring Product to the Market as Lease Rates Increase

seattleindustrial

The Kent Valley had a strong first quarter, experiencing almost 526,000 square feet of direct absorption across all submarkets. although down compared to an abnormally high Q1 2014, leasing activity was a respectable 910,144 square feet, with the most activity occurring in the Kent, Aubura, and Sumner submarkets.

Apr
28
2015 Q1 MarketBeat Bellevue Office Snapshot: Absorption Expected to Keep Vacancy Rates at Healthy Levels

bellevue_office

The U.S. economy continued to add jobs at a high rate as job growth expanded by 2.4% over the last year, pushing the unemployment rate to just 5.5%. Even with stronger employment numbers, wage pressure remained moderate, mainly occurring in specialized jobs.

The Eastside started the year off relatively quietly, with 111,073 square feet of overall absorption at the end of the first quarter. Despite this slowdown, the overall vacancy rate continued to decline, dropping by 2.6 percentage points on a year-over-year basis while rents increased by 1.0%.

Apr
28
2015 Q1 MarketBeat Seattle CBD Office Snapshot: Asking Rental Rates are Expected to Continue Rising

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The U.S. economy continued to add jobs at a high rate as job growth expanded by 2.4% over the last year, pushing the unemployment rate to just 5.5%. Even with stronger employment numbers, wage pressure remained moderate, mainly occurring in specialized jobs.

The Seattle CBD showed improvement as the overall vacancy rate declined by 2.8 percentage points on a year-over-year basis. Asking rents continued to climb in all submarkets with an overall increase of 4.0%, while class A rent increased by 5.6%.

Apr
28
2015 Q1 MarketBeat Seattle Suburban Office Snapshot: Leasing Activity More Than Doubles Last Year’s Q1

seattle_suburban_office

The U.S. economy continued to add jobs at a high rate as job growth expanded by 2.4% over the last year, pushing the unemployment rat to just 5.5%. Even with stronger employment numbers, wage pressure remained moderate, mainly occurring in specialized jobs.

The Southend office market continued to steadily improve, experiencing 163,473 square feet of leasing activity this quarter, more than double last year’s first quarter leasing activity. Asking rental rates were stable across the market.

Feb
10
Cushman & Wakefield | Commerce Reports a Strong but Tight Commercial Real Estate Market in Seattle-Bellevue in Q4, 2014

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SEATTLE—Feb. 9, 2015—The commercial real estate in the Seattle-Tacoma-Bellevue metro area saw a tightening of the market according to new data by the Seattle office of Cushman & Wakefield | Commerce. The firm released its most recent Marketbeat Snapshot reports detailing the state of commercial real estate in the Seattle and Bellevue markets.

Aug
19
Cushman & Wakefield | Commerce Reports Strong Q2 2014 for Puget Sound Commercial Real Estate Market

SEATTLE—Aug. 19, 2014—The Seattle office of Cushman & Wakefield | Commerce released its Marketbeat Snapshot reports for Q2 of 2014 today. The reports detail the commercial real estate activity for the Seattle and Bellevue markets.

“We’re seeing a lot of cranes along the skyline and activity is heating up, particularly on the Eastside,” said Dave Magee, Market Leader for the Cushman & Wakefield | Commerce Washington Region. “Development companies are prepping land for construction and the race is on to build office space in the Bellevue area. Competition for space in Seattle is also on the rise and the market is expected to respond with increased lease rates looking forward.”

Jul
21
Seattle Office Development Map

Map Highlights:

-Covers office developments recently completed, under construction and proposed in Seattle proper
-3D shading to expected development height
-Aggregate SF for each classification

May
14
Cushman & Wakefield | Commerce Reports High Activity in Puget Sound Commercial Real Estate Market in Q1 2014

SEATTLE—May 14, 2014—The Seattle office of Cushman & Wakefield | Commerce released its Marketbeat Snapshot reports today detailing the Seattle and Bellevue areas’ commercial real estate market status.

Feb
10
Cushman & Wakefield | Commerce Reports Lower Vacancy Rates in Seattle-Bellevue Commercial Real Estate Markets in Q4

Commercial real estate in the Seattle-Tacoma-Bellevue Metro area had a strong Q4 in 2013 according to new data by the Seattle and Bellevue branches of Cushman & Wakefield | Commerce. The firm released its most recent Marketbeat Snapshot reports detailing the state of commercial real estate in the Seattle and Bellevue markets.

Oct
30
Cushman & Wakefield | Commerce Reports Continuing Strength in the Seattle-Bellevue Commercial Real Estate Markets in Q3

SEATTLE—October 30, 2013—The Seattle-Tacoma-Bellevue Metro continues to outperform the national commercial real estate market according to new data by the Seattle and Bellevue branches of Cushman & Wakefield | Commerce. The firm released its most recent Marketbeat Snapshot reports detailing the Seattle and Bellevue areas’ market status.

The entire market has seen a decrease in vacancy and increase in direct asking rents which shows continued strength and economic upturn. Large construction projects in the Bellevue area will create jobs and bring more than 6 million square feet of new space to the market.

Jul
31
Cushman & Wakefield | Commerce Reports Strengthened Puget Sound Commercial Real Estate Market in Q2

Cushman & Wakefield | Commerce Reports Strengthened Puget Sound Commercial Real Estate Market in Q2SEATTLE—July 19, 2013— A stronger office market is being created as a result of increasing employment spanning the Seattle-Bellevue commercial markets according to new data by the Seattle branch of Cushman & Wakefield | Commerce. The firm released its most recent Marketbeat Snapshot reports detailing the Seattle and Bellevue areas’ commercial real estate market status.

Seattle’s Central Business District (CBD) area has continued to show a drop in vacancy rates and is currently showing the lowest level of vacancy rates since the middle of 2009. The Bellevue Central Business District (CBD) market is also showing a steady decline in vacancy rates on the Eastside, although the rate of decline is showing slower than that of the Seattle CBD. The Northend, however, saw a slight increase in vacancy.

“We are very pleased with the growth of Seattle’s CBD, with the growth of Amazon in particular,” said Dave Magee, Cushman & Wakefield | Commerce Senior Director and Managing Broker of the Washington Region. “The region has seen mixed port activity but an overall increase in GDP, which should boost the demand at the Ports of Seattle and Tacoma. In addition, investment activity is expected to remain strong, especially in the Bellevue market.”

Seattle CBD Office Snapshot

Activity strengthened during Q2 13 with the expansion of Amazon and Zulily. Signing leases totaling 556,000 square feet (sf), these deals are having a great impact on the market. The Seattle-Tacoma-Bellevue Metropolitan Statistical Area (MSA) has seen a 1.9 percent unemployment rate decline during 2013 due to the expansion of companies in the area. This job growth should result in CBD expanding and outperforming other markets throughout 2013. Read the Report

Seattle Suburban (Southend) Office Snapshot

The Southend market has seen an overall decrease in vacancy rates on a year-over-year basis by approximately 1.0 percentage points (pps). Additionally, the Southend is expected to capture some of the momentum being seen by CBD as tenants look for alternate locations with lower lease rates. Read the Report

Seattle Industrial Snapshot

The Kent Valley market has seen a large amount of space completed in Q2 13 and has been able to absorb the new space and have a declining vacancy rate through the quarter. The market remains healthy and stable as average asking rental rates have remained nearly unchanged over the last year. With nearly 2 million sf of construction that will enter the market over the next 18 months, the Kent Valley market should remain strong and vacancy rates should continue on a downward trend. Read the Report

Bellevue Office Snapshot

On a year-over-year basis, vacancy rates have up ticked by 0.7 pps, mainly contributed to space being vacated at the Frontier Communications Building. With the regional employment growth expected to increase by approximately 2.7% through 2013, vacancy rates are expected to decrease slightly. Investment activity is projected to remain strong as market fundamentals improve. Read the Report

Bellevue Industrial Snapshot

Overall vacancy rates are continuing to decline at a slow and steady pace in the Bellevue Industrial market. Leasing activity remains strong and on a year-over-year basis, activity has increased by 13.3%. Additionally, no new construction is underway, pushing vacancy rates down through year end. Port activity has remained mixed in the region with the Port of Seattle seeing a decrease in activity and the Port of Tacoma seeing a significant increase on a year-over-year basis. Read the Report

The full reports for each of these markets, as well as historical reports are available for download at:  http://www.comre.com/research.cfm

May
16
First Quarter 2013 Washington State Commercial Real Estate Market Reports

First Quarter 2013 Washington State Commercial Real Estate Market Reports

SEATTLE, WA – CBD OFFICE SNAPSHOT: The CBD area of Seattle continued to improve, ending first quarter with an overall vacancy rate of 16.0%, representing a 2.1-percentage point decrease on a year-over-year basis.

Read the Seattle, WA-CBD Report

SEATTLE, WA – SUBURBAN (SOUTHEND) OFFICE SNAPSHOT: The Southend office market continued to lag other Puget Sound markets with vacancy rates ticking up slightly from Q4 2012, but decreasing on a year-over-year basis.

Read the Seattle, WA – Suburban Report

BELLEVUE, WA OFFICE SNAPSHOT: Vacancy rates continued to decline throughout the market, decreasing 1.2 percentage points year-over-year.

Read the Bellevue, WA Office Report

Jan
29
Cushman & Wakefield | Commerce Reports Continued Recovery for Seattle Commercial Real Estate Market in Q4

SEATTLE—Jan. 28, 2013—The commercial real estate market in the Puget Sound area was one of the most active in the country during the fourth quarter of 2012, according to new data by the Seattle branch of Cushman & Wakefield | Commerce. The firm released its Marketbeat Snapshot reports detailing the status of the commercial real estate market in the Seattle and Bellevue areas.

The data shows that Seattle’s Central Business District (CBD) saw a significant drop in office vacancy rates. On the Eastside, strong office leasing activity in the Bellevue CBD is producing steady occupancy gains, but the suburban markets are seeing some residual contractions due to the lingering effects of the recession.

“Seattle’s CBD was one of the hottest markets in the nation in 2012, mostly due to Amazon.com taking up just shy of one million square feet of office space,” said Dave Magee, Cushman & Wakefield | Commerce Senior Director and Managing Broker of the Washington Region. “While the region has seen a mix of positive and negative absorption in office and industrial space, we are coming off a year of upward growth overall. Looking into 2013, the data shows a downward trend in vacancy rates for most areas. And because of improved GDP numbers, we should expect to see a boost in demand at the ports of Seattle and Tacoma, fueling the need for additional warehouse space.”

Oct
23
Third Quarter 2012 Washington State Commercial Real Estate Market Reports

Third Quarter 2012 Washington State Commercial Real Estate Market Reports
SEATTLE CBD OFFICE REPORT: Overall vacancy for Seattle’s CBD continued to decline through the third quarter of 2012, dropping 80 bps since mid-year to 16.1%, and it down from 20.1% once year ago. Read the Seattle CBD Office Report

SEATTLE NON-CBD OFFICE REPORT: The Southend office market is struggling to gain traction, despite a regional economic recovery. At 21.4%, the overall vacancy rate during the third quarter increased 30 bps from 21.1% at mid-year.Read the Seattle Non-CBD Office Report

SEATTLE INDUSTRIAL REPORT: On the hells of Grand Alliance’s move to Tacoma, container volumes at the Port of Seattle continued to weaken through tht third quarter. Read the Seattle Industrial Report

BELLEVUE OFFICE REPORT: Fundamentals for Bellevue’s office market continued to improve through third quarter, though much of the growth has been focused on Bellevue’s CBD. Read the Bellevue Office Report

BELLEVUE INDUSTRIAL REPORT: Slow improvements continued over the third quarter for the Eastside, helping to push the vacancy rate down marginally from 13.7% at mid-year to 13.6%. Read the Bellevue Industrial Report

Jul
11
Second Quarter 2012 Washington State Commercial Real Estate Market Reports

Second Quarter 2012 Washington State Commercial Real Estate Market ReportsSEATTLE CBD OFFICE REPORT: Momentum for office demand in Seattle’s CBD continued at a moderate clip over the past six months. The overall vacancy rate declined 260 pbs to end second quarter at 16.9%, its lowest level in three years. Read Q2 Seattle CBD Office Report

SEATTLE (SOUTHEND) SUBURBAN OFFICE REPORT: Economic recovery throughout the region continues to sidestep the Southend office market. Vacancy inched upward during the second quarter to 21.1%, from 20.8% three months ago. Read Q2 Seattle (Southend) Office Report

SEATTLE (KENT VALLEY) INDUSTRIAL REPORT: Despite weak traffic volumes so far in the year, Kent Valley continued on its path toward recovery. Overall vacancy declined from 8.4% last quarter to 7.8%, and is down 130 bps from year-end 2011.Read Q2 Seattle (Kent Valley) Industrial Report

BELLEVUE OFFICE REPORT: Activity on the Eastside has been gaining significant traction in recent quarters and by mid-year the market was well on its way towards equilibrium. The overall vacancy in the CBD dropped 50 bps since first quarter to 12.9%, and is down nearly a full percentage point from year-end 2011. Read Q2 Bellevue Office Report

BELLEVUE INDUSTRIAL REPORT: After several quarers of rising vacancy and negative absorption, the Eastside industrial market finally regained positive momentum during the second quearter, albeit margnally. The overall vacancy rate declined from 13.9% in the first quarter to 13.7%, resulting in 43,203 square fee of positive overall absorption.Read Q2 Bellevue Industrial Report

May
4
First Quarter 2012 Washington State Commercial Real Estate Market Reports

First Quarter 2012 Washington State Commercial Real Estate Market ReportsSEATTLE CBD OFFICE REPORT: Steady employment gains are boosting office demand in the region, and for Seattle CBD, demand continues to be fueled mainly by Amazon.com, helping to drive down the overall vacancy rate to 18.1 % from 19.5% at year-end 2011. Read Q1 CBD Office Report

SEATTLE (SOUTHEND) SUBURBAN OFFICE REPORT: Modest activity in other submarkets help to offset vacancies, but the Southend still logged 23,927 sf of negative overall absorption. Despite negative absorption, the overall vacancy rate actually declined from 21.1% at year-end 2011 to 20.8% in the first quarter. Read Q1 Suburban Office Report

SEATTLE (KENT VALLEY) INDUSTRIAL REPORT: Momenturm that was building in 2011 continued through the first quarter of the year. At 759,748 sf of positive absorption, first quarter had the strongest three-month gain since third quarter 2008. Read Q1 Industrial Report

BELLEVUE OFFICE REPORT: Though leasing activity remained brisk during the first three months of the year (the 554,630 sf of new deals is up 10% from fourth quarter), the flurry of expansions in 2011 slowed a bit for the Eastside office market. Read Q1 Office Report

BELLEVUE INDUSTRIAL REPORT: At 13.9%, the overall vacancy continued to climb in the first quarter of 2012, up from 13.5% at year-end and 12.7% one year ago.Read Q1 Industrial Report

Jan
20
Fourth Quarter 2011 Washington State Commercial Real Estate Market Reports

Oct
19
Third Quarter 2011 Washington State Commercial Real Estate Market Reports

Jul
19
Second Quarter 2011 Washington State Commercial Real Estate Market Reports

Jan
21
Fourth Quarter 2010 Washington State CRE Market Reports

Oct
26
Third Quarter 2010 Washington State Market Reports