The southern Seattle-Tacoma core industrial market has been experiencing significant demand.
LACEY, WA—While there is a shortage of industrial supply relative to demand, the greatest issue is available land for development. This is giving an advantage to developers currently active in the market.
Five industrial buildings totaling 1.75 million square feet were completed during second quarter. Another 4.4 million square feet of industrial product is currently under construction, 95% of which is actively marketed as available. The majority of this is speculative development, according to a second quarter report by Cushman & Wakefield. The firm says it expects a good portion of projects to be located in Pierce County as King County sites become increasingly rare in the future.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
