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Q4 2021 Puget Sound Industrial Market Report

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IndustrialReport
Unchanged from prior quarters, the main market driver is e-commerce and by extension, third-party logistics. For example, Smart Warehousing leased 168,000 square feet in Tarragon’s new SeaPORT Logistics Center in Sumner. Warehousing, fulfillment, and distribution will continue to dominate the industrial market after the pandemic resulted in a shift of consumers feeling more comfortable buying products online. Competing with Amazon’s industry leading delivery times has forced other companies to increase the number of warehouses near population centers in addition to having more products ready to ship, rather than relying on a distributed supply chain.

IndustrialReport

Q4 2021 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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