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Industrial Market (Still) Running Out of Room

SEATTLE, WA-Industrial space is slowly being squeezed out of the greater Seattle area as escalating land prices fuel redevelopment. A Grubb & Ellis research report says this gentrification may foreshadow the demise of Seattle's industrial market.

By Janet Parker | Updated on January 25, 2001

SEATTLE, WA-With growth management pressures and the escalating land values, many industrial areas here are being gentrified with offices, retail and residential re-developments, which fetch better prices. In its fourth quarter report, the Bellevue office of Grubb & Ellis says as redevelopment escalates, low-cost warehouse and distribution facilities “could become history in Seattle and much of King County.” G&E says the areas that could be hardest hit are the Tukwila, Renton, the Seattle waterfront and the Duwamish region.

To the south, the conversion of industrial space is already heating up in the district near the new Mariner’s Safeco Field. To the north of the Seattle’s central business district, the Interbay district along Elliott Avenue is sprouting numerous new projects where industrial once had thrived.

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