According to a recent report from Kidder Mathews, industrial activity in the Puget Sound region has experienced a modest increase over the past nine months.
Inflation reached its peak at 10.1% in June 2022 but has since decreased to 3.0% as of October 2024, remaining slightly higher than the national average of 2.6%. Core prices remain elevated at 3.8%, surpassing the national index by half a percentage point.
As for Q4 of 2024, regional vacancy rates have risen from Q2’s rate of7.4% to reach an overall rate of7 .9%. Availability is currently at10 .3%, with sublease options accounting for1 .8%.
Some notable transactions that have taken place in this area include EQT Exeter’s purchase of an Amazon-occupied leasehold located in South Seattle from Dermody Properties and Bridge Industrial’s acquisitionof Kent Valley DC II / IV propertyfrom Link Logistics R.E.Construction activity remains consistent with two major projects underway: Bridge Point Tacoma MM and FRED310 projectin Fredericksoncontinuing construction.
Overall, it can be seen that there has been an uptick in industrial activity within Puget Sound region based on these latest findings.
