Tony Miltenberger, SIOR
Senior Vice President, Partner
Industrial Newsletter - July 2018
2nd Quarter Results
The Puget Sound region’s industrial market saw an increased level of activity from the construction and leasing sides. Construction volume increased to 7,004,711 SF now under development (38 buildings) compared to 6.1 million SF (24 buildings) last quarter. The 2nd quarter also saw delivery of 1.36 million SF of new product with the overall market supply standing at nearly 333 million SF. After a slow 1st quarter, net absorption totaled nearly 1.2 million SF this quarter, keeping close pace with deliveries.