Snapshots

Year to date office sales volume eclipses 2017 total

Market conditions in the Puget Sound Market have continued to attract investors to office assets throughout the region, with 43 sales taking place year-to-date for a total of $3.8 billion.

year-to-date-office-sales-volume
  • Market conditions in the Puget Sound Market have continued to attract investors to office assets throughout the region, with 43 sales taking place year-to-date for a total of $3.8 billion.
  • Sales volume has already surpassed 2017’s 38 sales worth $3.0 billion and with several high profile properties on the market, Seattle is on pace for the highest annual sales volume post-recession.
  • Investor interest has been especially strong in the Downtown Seattle and Eastside Markets where 92% of the total sales have taken place. Of all submarkets Redmond saw the most investor interest with 5 total sales so far, while the I-90 Corridor and Seattle CBD follow closely behind with 4 sales a piece.
  • Prices continue to trend upward with LaSalle’s acquisition of 202 Westlake setting an all-time high price per square foot market at $992 per square feet in Q2.

 

Source: JLL Research

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