SEATTLE—The Seattle retail market is stable with moderatepositive absorption and new construction driven by a stronginvestment climate for stabilized centers and single tenant netleased properties. This according to a recent report fromKidder Mathews Valuation Advisory Services.
Washington posted a healthy 7.3% increase inretail sales for 2013 versus 2012. The Puget Soundregion increase was better at 7.5%. The PugetSound region accounts for 64.9% of the state'stotal sales volume, which is above its 58.7% shareof the population. This is driven by higher income levels and lowerunemployment, which in turn attracts a strong mix of retailers.
In the second quarter 2014, the vacancy ratedeclined by 7 basis points from 5.71% to 5.64%.Total available space (total vacant as well as occupied butavailable) decreased from 7.33% to 7.13%.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
