Seattle Industrial Space and Property Rental Market
The Seattle industrial rental market is one of the most popular areas to lease space in Puget Sound. Because of the high tenant demand and slim inventory, rental rates are on the pricier side and are on average $14.48 per square feet. This market has a total of 47,358,107 square feet of industrial space – most of these properties are mainly focused in South Seattle. The vacancy rate is 2.90%, which means for every 100 buildings, there are 2-3 available for lease. Other areas with industrial space are in Fremont, Ballard, and Downtown. Affordable industrial space are located in cities in Northend, Kent Valley, Pierce County, and Thurston County.