Notes
Kidder Mathews Q4 2013 Seattle industrial real estate market review covering King, Snohomish, Pierce, and Thurston Counties. Reports regional vacancy at 5.70%, total supply at 308.3 million s.f., and annual absorption of 3.1 million s.f. Covers submarkets including Seattle Close-In (vacancy 3.63%), South King County (vacancy 5.51%), East King County (vacancy 5.65%), Snohomish County (vacancy 7.59%), Pierce County (vacancy 5.71%), and Thurston County (vacancy 9.02%). Notable transactions include Amazon.com Dupont distribution center (980,000 s.f.), Funko LLC south Everett lease (202,500 s.f.), GSA Sumner lease (381,800 s.f.), Whirlpool Distribution Center ($74.3M), FedEx Redmond ($60.6M), and investor activity totaling 153 sales ($565.4 million). Discusses Puget Sound employment growth (2.9%), Boeing 777X, Port of Tacoma container traffic (+19%), Port of Seattle (-16%), and construction activity in Pierce and South King County (2.5 million s.f. underway).