{"id":8181,"date":"2026-01-26T16:47:03","date_gmt":"2026-01-27T00:47:03","guid":{"rendered":"https:\/\/www.lee-associates.com\/northwest\/?p=8181"},"modified":"2026-07-07T13:19:08","modified_gmt":"2026-07-07T20:19:08","slug":"q4-2025-expanded-puget-sound-industrial-market-report","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/northwest\/2026\/01\/26\/q4-2025-expanded-puget-sound-industrial-market-report\/","title":{"rendered":"Q4 2025 Expanded Puget Sound Industrial Market Report"},"content":{"rendered":"
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\n\t\t\t\t\t\tINDUSTRIAL MARKET OVERVIEW<\/strong>\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t<\/div>\n<\/div><\/div><\/div>
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Puget Sound\u2019s 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 deal term. Big-box sublease space continues to slowly burn off, yet provides compelling short-term solutions for contract driven 3PL users. Meanwhile, developers delivering the newest Class A product remain firm on rate expectations, competing for a shrinking pool of tenant requirements.<\/p>\n<\/div>\n<\/div><\/div><\/div>

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\tDownload Market Report to View More Details<\/a>\t\t\t\t\t\t<\/h4>\n\t\t\t\t\t\t<\/div>\n<\/div><\/div><\/div><\/div><\/div>
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\u25b2<\/td>\n(910,374) SF<\/strong>
\nNet Absorption<\/td>\n<\/tr>\n
\u25b2<\/td>\n9.30%<\/strong>
\nVacancy Rate<\/td>\n<\/tr>\n
\u25bc<\/td>\n3,616,267 SF<\/strong>
\nUnder Construction
\n(Details on Page 9 of Report)<\/td>\n<\/tr>\n
\u25b2<\/td>\n367,996,015 SF<\/strong>
\nInventory SF<\/td>\n<\/tr>\n
\u25bc<\/td>\n$14.67 PSF<\/strong>
\nAverage Market Rent \/ SF
\n(1.22\/SF Average Monthly Rent)<\/td>\n<\/tr>\n
\u25bc<\/td>\n$680,889,561<\/strong>
\nSales Volume<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div><\/div><\/div><\/div>
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\n\t\t\t\n\t\t\n\t\t\t\n\t\t\tCLICK FOR MORE DETAILS FROM THIS REPORT\t\t<\/span>\n\t\t\t<\/a>\n\t<\/div>\n<\/div><\/div><\/div>
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Puget Sound\u2019s 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…<\/p>\n","protected":false},"author":244,"featured_media":8233,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1084,1136],"tags":[1137],"class_list":["post-8181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-market-report","tag-market-report"],"yoast_head":"\nQ4 2025 Expanded Puget Sound Industrial Market Report - Lee & Associates Pacific Northwest<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lee-associates.com\/northwest\/2026\/01\/26\/q4-2025-expanded-puget-sound-industrial-market-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Q4 2025 Expanded Puget Sound Industrial Market Report\" \/>\n<meta property=\"og:description\" content=\"Puget Sound\u2019s fourth quarter industrial market reflected a cautious equilibrium. 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