Puget Sound Insights from Q1 2024

In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor review the industrial market performance for Q1 2024. They discuss the rise in vacancy rates across various submarkets, except for the Eastside, reaching an overall rate of 7%. The conversation also covers tenant and landlord markets, submarket performances, including South Seattle and Kent Valley, and the impact on different market sizes. The impacts of COVID on buying patterns, the shift in demand from durable goods to experiences, and the role of 3PLs in current market dynamics are analyzed. Additionally, they touch on investment sales activity, user market demand, challenges in the multi-story market, the implications of a bridge collapse on the supply chain, and development trends. The episode concludes with predictions for tenant velocity, investment activities, and vacancy rates in the upcoming quarters. 00:43 Diving into the Q1 2024 Industrial Market Review 00:52 Vacancy Rates and Market Dynamics Discussion 02:32 Submarket Analysis: South Seattle, Kent Valley, and Pierce County 06:29 Tenant and Landlord Market Trends 08:50 Investment Sales and Market Opportunities 13:00 The Impact of Multi-Story Developments and Amazon's Activity 16:08 Port Activity, Supply Chain Issues, and Development Insights 19:39 Q1 Recap and Predictions for the Upcoming Quarters You can find every episode of this show on Apple Podcasts, Spotify or YouTube, For more, visit industrialadvisors.com