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Q2 2022 Puget Sound Industrial Market Report

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IndustrialReport
In the face of swirling economic events, primarily record-level s of inflation, continued supply chain disruptions, and rising interest rates, which are meant to combat inflation, industrial market activity was not as robust as expected this quarter. Tenant demand has continued to be strong, but economic forces have delayed some decisions, encouraging users to proceed more cautiously than they have been for the last two years. Despite a temporary cooling of market activity, construction continues in anticipation of future demand. With 9.3 million sq uare feet being developed across the region, 61.2% of it, or 5. 7 million square feet, is in Northend and Kent Valley.

IndustrialReport

Q2 2022 Puget Sound Industrial Market Report

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Jacob Pavlik

Research Manager

Seattle

Jacob Pavlik joins the Colliers team after working in the Economic Development and Planning departments for the cities of Hillsboro, Oregon and Alexandria, Virginia, respectively.  At Colliers, he leads a team of researchers to  collect, analyze, and synthesize market data for Puget Sound and Portland. He loves the challenge of taking complex data and making it easily digestible for a wide audience. He assists brokers with research specific to their client's needs, including geovisualizatoin and micromarket analysis.

His authentic passion for commercial real estate is seen most clearly when Jacob explores his local urban ecosystem and travels to new cities around the world to see how they function and relate to each other. He likes to see the built environment adapt to the changing needs, desires, and behaviors of the people who populate it. These functions fit perfectly into Jacob's role as Research Manager, telling the story of how commercial real estate in the Pacific Northwest evolves over time.

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