SEATTLE—The pandemic and resulting slowdown has uncovered a couple of interesting factoids. For one, trampoline sales are through the roof, pun intended. So are Netflix's stock price and alcohol sales.
For more data directly related to commercial real estate, the Kidder Mathews' multifamily investment team of Dylan Simon and Jerrid Anderson recently analyzed the recent rent and occupancy trends in King County. The team discovered the multifamily market is performing well–and certainly significantly better than nearly all other commercial real estate asset classes. And, the CRE market is in early innings of how the current pandemic will impact the broader economy along with the Puget Sound apartment market.
"The most surprising aspect of this pandemic so far is the resiliency of the apartment sector, especially in markets such a Seattle where the sector remains extremely strong," Simon tells GlobeSt.com. "So far, the silver linings are rethinking how we live and work: Promoting healthy living spaces and rethinking how to integrate work from home strategies in apartment buildings and other amenities that promote lifestyle in a change in the overall dynamic of interaction at the office."
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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.
