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Seattle & Northwest  + Seattle  + Industrial  |  January 20, 2025
Jasmine Kilman
By: Jasmine Kilman

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.

    Read More News Stories About: Kidder Mathews
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    Kidder Mathews

    About Jasmine Kilman

    Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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