Lee & Associates Pacific Northwest Brokers Recognized for CoStar Power Broker Quarterly Deals – Q3 2025 Lee & Associates Pacific Northwest is proud to announce that Chris Peterson, SIOR, CCIM, Richard Peterson, and Ryan Aleinikoff were recognized in CoStar’s Power Broker Quarterly Deals for Q3 2025. These awards highlight the region’s most notable commercial real estate transactions, honoring top-performing brokers for their work on impactful leases and sales. This quarter, three of their industrial leases…
Industrial Development Horizon Q3 2025
SEATTLE, WA (October 30, 2025) – Lee & Associates is pleased to announce the release of our Industrial Development Horizon Q3 2025 report, offering a detailed look at the projects shaping the industrial landscape across the Pacific Northwest. This edition highlights active construction, planned developments through 2027, and long-term opportunities that will influence the region’s next phase of growth. After several years of record-setting construction, 2025 marks a turning point. New deliveries are tapering while demand for…
Q3 2025 Industrial Market Report
The Pacific Northwest industrial market continued to face headwinds in Q3 2025, with vacancy climbing to 8.79% as sluggish tenant demand and a wave of second-generation space returned to the market. Net absorption remained negative, though at a slower pace than Q2, suggesting some stabilization. Average annual NNN rents held firm at $15.50/SF, as newer Class A assets kept pricing buoyant despite softer demand in older product. Investment sales volume increased, with pricing drifting lower…
Q3 2025 Expanded Puget Sound Industrial Market Report
The Pacific Northwest industrial market continued to face headwinds in Q3 2025, with vacancy climbing to 8.79% as sluggish tenant demand and a wave of second generation space returned to the market. Net absorption remained negative, though at a slower pace than Q2, suggesting some stabilization. Average annual NNN rents held firm at $15.50/SF, as newer Class A assets kept pricing buoyant despite softer demand in older product. Investment sales volume increased, with pricing drifting…
Lee & Associates Pacific Northwest Promotes Andrew Hull to Principal
September 25, 2025 (Bellevue, WA) – Lee & Associates | Pacific Northwest is proud to announce the promotion of Andrew Hull to Principal. Formerly a Senior Vice President with the firm, Andrew has played a pivotal role in the continued growth of Lee & Associates’ industrial services group since joining the company in 2018. With a strong background in tenant and landlord representation, Andrew specializes in the leasing and sales of industrial and flex properties…
Lee & Associates Pacific Northwest Welcomes Rachel Corp as Senior Vice President
September 17, 2025 (Bellevue, WA) – Lee & Associates Commercial Real Estate Services is pleased to announce the addition of Rachel Corp as Senior Vice President in the firm’s Tacoma office. Corp brings a deep foundation in retail leasing and investment sales along with a growth-focused mindset that aligns with Lee & Associates’ entrepreneurial culture. At Lee & Associates, Corp will focus on retail landlord and tenant representation throughout the Puget Sound region, with an…
Case Study – M&D Marysville Industrial Park
12810,12906 & 12730 State Avenue, Marysville, WA Overview Industry: Industrial/Manufacturing Campus Size: ± 290,749 SF Total Across 3 Buildings Landlord: Private Ownership Tenant: Confidential Aerospace Manufacturer Lease Type: NNN | Renewal & Restructure The Outcome A full-campus renewal was executed with the existing aerospace manufacturer. The new lease structure provided: enhanced rent terms, clearer expense responsibility, embedded flexibility for the landlord, and preservation of occupancy. The outcome eliminated vacancy risk, deferred maintenance exposure, and allowed…
Lee & Associates | Pacific Northwest Expands Institutional Services Team With James Lambert
July 30, 2025 (Bellevue, WA) – Lee & Associates Commercial Real Estate Services, is pleased to announce that James Lambert, a 25-year veteran of commercial real estate strategy, operations, and investment, has joined the firm’s Bellevue office. At Lee & Associates, Lambert will lead the development of a new Industrial Capital Markets platform, advising institutional investors, developers, family offices, and high-net-worth individuals across the Pacific Northwest and beyond. He will also drive the firm’s strategic client services and portfolio advisory platform, helping industrial…
Flying Food Group leases space in new SeaTac building
SEATAC, WA (July 23, 2025) —Flying Food Group has leased 95,700 square feet at an industrial building in SeaTac. The space is located in Bridge Industrial’s 169,600-square-foot Bridge Point SeaTac 300 building, which was completed in 2024. Flying Food is the building’s first tenant. The Chicago-based airline catering company’s lease at 1410 S. 200th St. will expand its footprint, according to a spokesperson for Lee & Associates. Flying Food currently leases a building within Sea-Tac…
Q2 2025 Industrial Market Report
The Pacific Northwest industrial market saw renewed volatility in Q2, with net absorption turning negative at -1.38 million SF and vacancy rising to 8.6%-a one-year high. Despite weaker tenant demand, average annual NNN rents increased to $14.47/SF, reflecting landlord confidence or pricing discipline for newer assets. Sale prices declined to $224.45/SF from $233.00 in Q1, indicating recalibrated investor expectations. While macroeconomic uncertainty and rising vacancies persist, long-term industrial fundamentals remain strong. Overlaying this is a…