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Report: Industrial Activity in Puget Sound Region Sees Uptick
Industrial activity in the Puget Sound region has picked up modestly over the past nine months, according to a recent report from Kidder Mathews.
Inflation peaked at 10.1% in June 2022 and declined to 3.0% in October 2024, remaining slightly above the U.S. city average of 2.6%. Core prices remain elevated at 3.8%, exceeding the national index by 50 basis points. For the industrial markets at Q4 2024, regional vacancy is 7.9%, up from 7.4% in Q2. Availability is at 10.3%, with 1.8% available for sublease.
Notable transactions in the area include EQT Exeter purchasing an Amazon-occupied leasehold in South Seattle from Dermody Properties and Bridge Industrial acquiring the Kent Valley DC II / IV property from Link Logistics R.E. Construction activity remains steady, with the start of Bridge Point Tacoma 2MM and the continuation of the FRED310 project in Frederickson.
