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As big-ticket items involving sizable investments, commercial property transactions often have a wide impact within the community. CoStar is pleased to recognize the following top leases completed during the fourth quarter and the dealmakers who made them happen in their respective markets. Lee & Associates Pacific Northwest is proud to announce that Christian Mattson, SIOR, Billy Moultrie and Chris Peterson, SIOR, CCIM, were recognized in CoStar’s Power Broker Quarterly Deals Industrial Lease for Q4 2025….

      SOLD SOLD SOLD Pape Anchorage Gilman West Great Falls Manor 1800 West 47th Ave, Anchorage, AK 2222 Gilman Drive West, Seattle, WA 1501 9th Street South, Great Falls, MT Value: $1,800,000 Value: $2,750,000 Units: 120 Size: 9,200 SF Units: 14 Size: 70,000 SF Brokers: Chris Peterson, Billy Moultrie, Christian Mattson, Mindy Llewellyn, and Richard Peterson Brokers: Candice Chevaillier, Dea Sumantri, Daniel Lim, and Sara Bago Broker: Nate Kiger            …

TACOMA, WA (February 6, 2026) – Many U.S. cities have a legacy National Guard armory, but not every city has made such a building work in modern times. That report notes that some of the buildings, quite grand in scale, have become among the world’s most endangered sites, alongside “Egypt’s Valley of the Kings and the Teotihuacan Pyramid in Mexico.” It also notes that some of “yesterday’s armories have been successfully converted into school buildings,…

Puget Sound’s fourth quarter industrial market reflected a cautious equilibrium. Rental rate growth remained largely flat as demand focused on existing occupancies rather than expansion. Approximately 80% of executed deal volume consisted of renewals, driven by landlords aggressively pursuing early extensions to proactively manage rising vacancy. Tenants continued to leverage elevated availability and intense competition to secure meaningful concessions, including eight to twelve months of base rent abatement on 60-month renewals, often structured within the…

The Puget Sound office market remained challenged through Q4 2025, with availability hovering near 17% and conditions firmly a tenant’s market. Leasing volume in 2025 finished roughly in line with 2024 but remained nearly 30% below pre-pandemic levels, with average lease sizes down approximately 10%. Net absorption was negative by roughly 820,000 SF during the year, driven largely by major corporate consolidations rather than new supply. New construction had little impact on availability, as virtually…

Absorption moderated in the fourth quarter, with trailing 12-month net absorption totaling 9,588 units, reflecting both market seasonality and decelerating deliveries. Vacancy ticked up modestly to 7.4%, though remains within a stable historical range. Asking rents remained relatively flat for the year at $2,064 per unit. Sales pricing has remained durable, with average price per unit ending the year at approximately $356,000, while cap rates compressed to roughly 5.0%. Despite some near-term softness in fundamentals,…

Puget Sound’s fourth quarter industrial market reflected a cautious equilibrium. Rental rate growth remained largely flat as demand focused on existing occupancies rather than expansion. Approximately 80% of executed deal volume consisted of renewals, driven by landlords aggressively pursuing early extensions to proactively manage rising vacancy. Tenants continued to leverage elevated availability and intense competition to secure meaningful concessions, including eight to twelve months of base rent abatement on 60-month renewals, often structured within the…

Quarter 4 pushed more of the same narrative from the prior year. Cap rates rose slightly to average about 6.3%. On a dollar per square foot basis, prices dropped slightly for the 2nd quarter in a row. Vacancy continued to rise slightly for the 5th quarter in a row but still stayed under the national average of 4.28%. New retail construction was slow but steady. We are excited to see what 2026 brings and hope…

January 23, 2026 (Bellevue, WA) – Lee & Associates | Pacific Northwest is proud to announce the promotion of Scott Hill to Associate Vice President. Since joining the firm in 2024 as an Associate, Scott has played a key role in the continued growth of Lee & Associates’ industrial services. Specializing in the leasing and sale of industrial and flex properties throughout the Puget Sound region, he is known for delivering consistent value through deep…

  Key Deal Points Address: 219 Belmont Ave E, Seattle Units: 11 Sale Price: $2,550,000 Brought multiple offers in the face of a changing regulatory environment Challenge Our client owned a charming, turn-of-the-century apartment building in Capitol Hill and had recently assumed full management responsibilities from their partner. While the property had been well cared for over time, the day-to-day operational demands combined with deferred maintenance and an increasingly complex regulatory environment quickly became overwhelming….