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Looking for industrial space? Here are some new options.

  • ​​​The real estate market in the Seattle region, regardless of property type, is incredibly competitive. With vacancy at 2.5 percent, industrial space is particularly hard to find. Development activity will remain high for the next 12 months, as there is nearly 15 million square feet of active tenant demand in the market. Click hereto see an interactive development map.
  • Approximately 6.0 million square feet of new space is underway, more than 80 percent of which is focused in the Southend. 17 of the 20 projects are speculative developments. High demand for “big-box” distribution and logistics space (> 100,000 square feet) has led to spec development in key submarkets where vacancy has decreased significantly.
  • A large number of corporations are looking to establish and consolidate their distribution footprint in the Seattle metro area, and we expect new projects to be leased quickly upon delivery.

Source: JLL Research

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