Search
 

Industrial Sector Looking Lackluster

TACOMA, WA-Colliers International says of the industrial market, "it will get worse before it gets better." And, its predictions call for another two quarters of decline followed by a slow "U" shaped recovery, starting in the middle of 2002.

By Janet Parker | Updated on January 22, 2002

TACOMA, WA-As 2001 closed out, Colliers Puget Sound’s industrial market, with the heavyweights being Pierce County and the Kent Valley. Both ended the year on lackluster notes, and Colliers anticipates more of the same for owners and landlords.

On New Year’s Eve, Pierce County’s sub-market penciled out at 573 buildings containing slightly more than 29.2 million sf of space. The Kent Valley eclipsed those numbers with 1,063 industrial buildings encompassing just under 74 million sf.

In Pierce County, direct vacancies were measured at more than 2.4 million sf, or 8.25% of the total. Nearly one-half million sf were up for sublease. Numbers aggregated, the county finished the fourth quarter with a total vacancy of 9.97%.

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.