Seattle’s industrial market is entering a new phase of cooling, with signs of a slowdown becoming increasingly evident across construction, leasing, and investment activity. Based on a new Kidder Mathews’ Q2 2025 industrial market report, the regional vacancy rate rose to 8.1 percent, up from 7.1 percent at the close of 2024. This marks a notable shift from the record-low vacancy of 2.9 percent seen in 2017 and reflects a broader imbalance between supply and demand.
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