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Pierce County industrial vacancies shrinking

Post by John Gillie / The News Tribune on June 30, 2010 at 2:12 pm with No Comments »
June 30, 2010 2:12 pm

Pierce County’s industrial space vacancies shrunk by 281,152 square feet in the second quarter, putting the county at the top of the heap in the Puget Sound area for industrial space leasing and sales.

That information comes from a report issued today by commercial real estate company Colliers International.

The real estate company reported that the industrial vacancy rate dropped from 9.1 percent a year ago in Pierce County to 8.36 percent now.

Pierce County’s square footage absorption was greater than any of the four other areas in the Puget Sound region, the report said.

Besides Pierce County, only King County’s Eastside reported a positive absorption of industrial space during the first half of the year, Colliers said. But its absorption, just 1,460 square feet, was just a fraction of Pierce County’s 215,505 square feet absorption.

“Pierce County continues to be a strong point for the Puget Sound industrial market,” said the report, “carrying much of the activity and new construction in the region.”

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