Seattle Industrial: Consistent and Steady

SEATTLE—The big sigh of relief heard in the Seattle region occurred when the Boeing Machinists approved their new contract which secured the decision to build the 777X in Everett. “If that had not happened, there would have been a great deal of anxiety regarding reductions in jobs, as Boeing most certainly would have selected an out of state location to build the new jet,” explained Randy Gilliam, SVP of valuation services at Kidder Matthews in a recent report.

The other significant news on the industrial front is Amazon.com in March revealed they will open a 1-million-square-foot distribution center in the Stryker Business Center in Kent. The first quarter results of the region’s industrial market are best summed up as “consistent and steady,” says Gilliam.