Key Deal Points 4714 22nd Ave NE, Seattle 12-unit Sale Price $3.4M Closed within 34 days Represented 1031 Buyer The team at Lee & Associates helped me confidently navigate the sale of my building, an exchange into a new property, and all the stages and deadlines in between. I look forward to with them again. – Ann For more information regarding this case study, please contact: Candice Chevaillier, CCIM Principal D (206) 773-2694 cchevaillier@lee-associates.com…
Q1 2024 Multifamily Market Report
Q1 2024 sees a measurable 14% increase in the absorption as new construction stock continues lease up. Both rents and vacancy rates remained steady over the period. It is interesting to note current rents are equivalent to Q1 2023, one year ago. We do not expect significant rent growth for the remainder of the year as the market continues to absorb newly delivered units. Strong Q1 absorption numbers in a traditionally slow winter market indicate…
Q1 2024 Office Market Report
Seattle’s office market is showing signs of life. It has yet to materially impact vacancy, but leasing activity is picking up. Pokémon signed a lease for 16 floors in The Eight, an under-construction tower in the Bellevue CBD. This is the largest lease in the market in three years, and the largest in Skanska’s history. There were three office sales this quarter that exceeded $30 million, all of which were larger than any in 2023….
Q1 2024 Industrial Market Report
After a fairly rough end to 2023 Q1 continues to present problems for the general market recovery that was anticipated to begin in 2024. We have continued to see the contraction of companies that grew during Covid as well as deliveries of new construction. Combined, the overall vacancy rates climbed nearly 3% year over year. There is a silver lining in that we continue to see rents increase overall with some increased concessions, but general…
Another Major Tenant In Downtown Tacoma: New Key Office Sublease At 1498 Pacific Avenue
November 14, 2023 – Tacoma, WA – Lee & Associates is pleased to announce the successful facilitation of a 19,908 square foot office space sublease at 1498 Pacific Avenue, Tacoma. Harrison Laird and John Bauder, representing Sound Physicians, have effectively brokered this sublease to Milgard Manufacturing. The lease is scheduled to begin on February 1, 2024. 1498 Pacific, a Class A office building located in the heart of downtown Tacoma, was recently acquired by private…
2023 SIOR Investment Broker of the Year: Jim Reed
Congratulations to Jim Reed for an incredible achievement! In a back-to-back win, he has been awarded the SIOR Investment Broker of the Year for the second year in a row at NAIOP’s annual Night of the Stars! Here’s to continued success and recognition for your dedication, expertise, and hard work! MEDIA CONTACT Jim Bowles, SIOR Lee & Associates (206) 773-2673 jbowles@lee-associates.com
Q3 2023 Pacific Northwest Market Reports
NEW FROM THE MEDIA CENTER… Historic 1102 Broadway Achieves Full Occupancy as Tacoma Office Market Strengthens DAEDONG-USA SIGNS LEASE FOR 149,340 SF WAREHOUSE IN TUMWATER Q3 2024 Retail Market Report Q3 2024 Office Market Report
2023 SIOR Broker of the Year Award Finalists Announced
We’re thrilled to announce that our team has swept the nominations for the 2023 SIOR Broker of the Year awards, making us the only company with finalists in all three categories! Congratulations to: Jim Reed – Finalist in the Investment Category Harrison Laird, and John Bauder – Finalist in the Office Category Richard Peterson, Billy Moultrie, Christian Mattson, and Chris Peterson – Finalists in the Industrial Category Their exceptional dedication and expertise in the world…
Major Office Lease Signed in Fife: Landmark 27,400 SF Deal Facilitated by Lee & Associates
October 24, 2023 (Tacoma, WA) – Harrison Laird and John Bauder, Principals at Lee & Associates Commercial Real Estate Services are pleased to have facilitated a 27,400 SF office lease with Epic Government, on behalf of their client, D&S Family LLC. The lease is the largest general office lease in Pierce County signed since January of 2021, when Bauder and Laird facilitated a renewal and expansion of Infoblox at Horizon Pacific Center in downtown Tacoma….
Q2 2023 SIOR Top Transactions
We’re thrilled to highlight two key achievements by our Principals at Lee & Associates | Pacific Northwest: Jim Reed and Sean Durkin secured the #7 Top Office Transaction nationwide with SIOR. Christian Mattson and Chris Peterson clinched the #9 Top Industrial Transaction nationwide and the #1 deal in the Washington State Chapter with SIOR. Congratulations to all! MEDIA CONTACT Jim Bowles, SIOR Lee & Associates (206) 773-2673 jbowles@lee-associates.com