Recently published in the Seattle Times was the Urban Land Institute and PriceWaterhouse survey of landowners, developers, lenders and other industry professionals and the Seattle market is still booming for commercial Real Estate. In fact they predict this to be the 2nd best commercial market EVER!!
Here's an excerpt from the article -
The experts ranked Seattle second only to New York City in overall prospects for commercial and multifamily investment and development. Seattle placed first in industrial, office, rental apartment and for-sale home development, and second in retail and hotel development.
"Seattle is developing into an exciting 24-hour city smack-dab on key Asian shipping routes, and its brainpower economy diversifies... " the report says. "[Seattle's] multifamily and industrial sectors rate as the leading buy candidates in the entire survey."
But "abysmal traffic congestion strangles commuters," it adds.
This is exciting news for all commercial real estate professionals in the area. Not only do we have more investors due to decline in housing but we have rankings and statistics to back up the investment opportunities in our market.