Search
 

Industrial Market Quirky but Healthy

SEATTLE, WA-A specialist in the region's industrial market, Brett Hartzell of CB Richard Ellis comments on some of the quirky numbers posted during Q2. Little construction, negative absorption and slightly higher vacancies--but it manages to remain healthy overall.

By Janet Parker | Updated on August 23, 2001

SEATTLE, WA-Brett Hartzell, an industrial broker, describes the current Seattle market as having “a lot of interesting dynamics.” A specialist working from the Bellevue office of CB Richard Ellis, Hartzell has seen a lot of market conditions in his 18 years in the industry.

“There’s virtually no new construction in the market because of the slowdown in leasing,” says Hartzell, a fact borne out by CB Richard Ellis’ recently published second quarter report on Puget Sound. Altogether, from Tacoma/Fife north through Snohomish County, there currently exists just shy of 200 million sf of product, and only 1.3 million sf under construction–the majority of which (780,000 sf) is in the Tacoma/Fife area.

That sub-market’s growth strikes Hartzell as interesting, given that it is well out of Seattle’s traditional industrial market–the Kent Valley, just south of Seattle. He attributes much of the attraction to the availability of land there.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.