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Regional Summaries

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Seattle, WA

Apartment
Vacancy overall has remained favorable in the Seattle apartment market but has been rising; additional increases are expected. The rate in the fourth quarter of 2017 was 5.3%, up 20 basis points for the period and up 40 for the year following a loss of 40 in 2016. The rate shed 10 basis points in January 2018. Asking and effective rent averages in the fourth quarter, meanwhile, were $1,703 and $1,618 per month, up 0.3% and down 0.1%, respectively. Increases for the year were strong overall at 6.3% asking and 4.9% effective. Gains of 0.4% followed for both averages in January 2018. VIEW APARTMENT LISTINGS >
Industrial
The Seattle warehouse/distribution market continues to tighten. Fourth quarter 2017 warehouse/distribution vacancy was low at just 5.9%, down 30 basis points for the period and down 70 for the year after 2016Â’s 100-basis-points decline. The modest positive net absorption over the month of January 2018 shaved 10 more basis points from the rate. Rent growth, meanwhile, strengthened in 2016 and was exceedingly strong in 2017. At $7.54 psf and $7.15 psf, asking and effective averages in the fourth quarter, quite high by national norms for this property category, represented gains of fully 5.9% and 6.2% for the year, after increases of 3.9% and 4.0% in 2016. Gains in the fourth quarter alone were 1.5% and 1.6%. January 2018 data saw no change. VIEW INDUSTRIAL LISTINGS >
Office
The Seattle general purpose, multi-tenant office market has continued to tighten. Overall vacancy ended the fourth quarter of 2017 at just 10.8%, up 60 basis points for the period and down 10 for the year following a loss on the order of 80 basis points in 2016. The small positive net absorption total along with no additions to supply that followed in January 2018 shaved 10 basis points from the rate. Rent growth, if slowing recently, has remained strong. At $36.60 psf and $30.16 psf, asking and effective averages were up 4.1% and 4.2% for the year following increases of 4.1% and 4.5% in 2016. Fourth quarter 2017 increases were 1.1% asking and 1.0% effective. Data for January 2018 indicate no change for either rate. VIEW OFFICE LISTINGS >
Retail
Vacancy in the Seattle community-neighborhood shopping center market as of the fourth quarter of 2017 remained low at 7.9%, unchanged for the period and up 20 basis points for the year following a 40-basis-points increase through 2016. No change in the rate followed in January 2018. Rent growth in this sector accelerated in 2017. At $25.51 psf and $22.59 psf, fourth quarter asking and effective averages were up 3.9% each for the year after gains of 1.7% each in 2016. Fourth quarter 2017 gains were 1.8% apiece. January 2018 brought an additional loss of 0.1% to each average. VIEW RETAIL LISTINGS >

More from our Local Market Experts About WA

Source: Data provided by Reis, inc.

Coldwell Banker Commercial® Reports

Coldwell Banker Commercial® Blue Book

The Coldwell Banker Commercial® (CBC) organization is proud to present its’ 2017 Year-End Blue Book!

The Blue Book is a helpful market report with information brought to you by the true “on the ground” experts – the professionals of the Coldwell Banker Commercial organization from all over the world.

CBC-affiliated professionals represent one of the largest commercial real estate footprints in the U.S.  The Blue Book brings their local market feedback directly to you with up-to-date commercial real estate research covering 130+ Primary, Secondary, Tertiary & International markets. If you are thinking of investing in alternative markets, the Blue Book is your go-to resource for local commercial real estate market data!

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