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Hi, we're Colliers | Puget Sound


Colliers International operates from two offices in the Puget Sound area: Seattle and Bellevue. Through the expertise of more than 100 leasing and sales brokerage, real estate management, appraisal and valuation, and support professionals, we offer comprehensive real estate services in the office, industrial, retail, multifamily and investment sectors throughout the Seattle area and beyond.

Featured news

Aug 2, 2022

Seattle-Based Healthcare Technology Firm Continues Expansion

Bttn Signs New Lease to Facilitate Growth in Puget Sound Region
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Aug 2, 2022

Noreg Apartments in Ballard Trades Hands for the First Time

Colliers Facilitates $5.25M Sale of Value-Add Property
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Jul 22, 2022

Two Industrial Buildings in Kent Sell for $106M

Colliers Brokers Off Market Transaction in Highly Desirable Submarket
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Jul 22, 2022

Colliers Brokers Sale of Two Apartment Buildings in University District

$33M portfolio sale signals ongoing investor confidence in submarket
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Stay ahead with industry-leading research

Jan 10, 2023

Q4 2022 Puget Sound Industrial Market Report

Sale volume dropped 23% to $1.9 billion from $2.5 billion last year, a direct result of the Federal Reserve raising interest rates to reduce inflation. The leasing market has been strong, although weaker than 2021. Rents have continued to increase across the region, but growth is weaker than the last two years, allowing tenants to catch up to market expectations and competitive demand. Almost 12 million square feet of new occupancy occurred in 2022, edging out 2021 as the top year for net absorption. Sixteen percent of the development pipeline that is currently under construction and expected to deliver next year has been pre-leased, leaving only 5.7 million square feet available. Given the significant net absorption of the past two years, this is unlikely to satisfy demand, resulting in rising rental rates and decreasing vacancy rates.
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Jan 6, 2023

Q4 2022 Seattle Office Report

Pressure on the leasing market continued to the end of Q4 2022, especially among Class B and C properties. Sale activity stagnated in part because of rising interest rates impacting markets nationally, while confidence in office demand continued to dwindle as companies’ return-to-office (RTO) mandates have yet to broadly materialize. According to the Downtown Seattle Association, only 36% of office workers were coming into the office in October. However, this could change in the new year as the economy slows and technology companies are challenged financially without the ability to seek inexpensive debt to fuel their growth. Some have already laid off hundreds of employees in the area. The power balance may shift from the employee to employer this year, in the face of economic headwinds that give RTO more influence. As a result, this could be an opportune time for companies to seek new space, as competition is poised to increase throughout 2023, particularly among companies more resilient to current economic conditions.
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Jan 5, 2023

Q4 2022 Eastside Office Report

Economic pressures and slow returns to office (RTO) have stymied office market activity on the Eastside. Higher interest rates means that technology companies, who have been responsible for most of the leasing activity over the last cycle, have more expensive cost of funds with which to grow, dampening their appetite for new space. With a competitive employment market, the balance of power has leaned toward employees for the last four-plus years, however this could shift in 2023 depending on how the economic environment advances. Several employers have announced RTO mandates for the end of February, including Snap and Microsoft.
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Dec 6, 2022

Northwest Regional Retail Report Fall 2022

Retail markets across the U.S. Northwest Region continued to improve going into Fall 2022
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Making a difference in the Puget Sound

Heart of the Puget Sound

Seattle is the largest city in Washington State and the Pacific Northwest. Located between Puget Sound on the west and Lake Washington on the east, Seattle is a unique blend of traditional corporations, older industrial businesses and modern technology firms. The city has a diverse inventory of office and retail space within the central business district; industrial manufacturing and distribution to the south around the Port of Seattle; and multifamily developments throughout the larger incorporated city.

Population: +/- 687,000
Specialties: office, industrial, multifamily, retail, investment

 
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The Headquarters Home

The Eastside, which incorporates all the cities to the east of Lake Washington, is no longer considered a suburb of Seattle. The corporate headquarters of major multi-national organizations such as Microsoft (Redmond), T-Mobile (Bellevue), AT&T Mobile (Bellevue), Costco (Issaquah) and Nintendo USA (Bellevue) are located in the area, and it is recognized as a hub for technology, biotech and medical companies in addition to the entertainment and media sectors. 

Population: +/- 353,000
Specialties: office, industrial, multifamily, retail, investment

 
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The Northern Force

The Northend represents the communities that are north of Lake Washington which consists of all of Snohomish County as well as the cities of Bothell, Kenmore and Woodinville in King County. An industrial-heavy market, the Northend is one of the many homes of Boeing, a staple of the community since 1967. Other large tenants include Aviation Technical Services, Giddens Industries and Zodiac Aerospace.

Population: +/- 295,000
Specialties: office, industrial, multifamily, investment

 
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Distribution Mastery

The Kent Valley, located in South King County, is the fourth largest warehouse and distribution center in the U.S. and the second largest manufacturing and distribution center on the West Coast. It is home to many diverse industries and is rapidly developing into a vibrant urban center with major projects such as Kent Station, the Great Wall Mall and the ShoWare Center. Some of the largest businesses within Kent Valley are Boeing, REI, Columbia Distributing, Alaska Airlines and Starbucks.

Population: +/- 465,000
Specialties: industrial, office, investment

 
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Port Influence

Pierce County, south of King County, is the home of Tacoma, the second largest labor market in Washington state. It is a manufacturing and distribution powerhouse, and the location of the Port of Tacoma, the seventh busiest container handling port in the U.S. This area is home to large industrial and warehouse properties, as well technology and military installations including the U.S. Air Force's McChord Field and the Fort Lewis Army Base.

Population: +/- 500,000
Specialties: industrial, investment

 
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Local leadership

Brokerage teams

Condon McGregor Industrial Team

The Bill Condon and Matt McGregor team of Colliers International are an industrial brokerage group in Seattle WA with specialties in large firm warehousing, manufacturing and logistics facilities.
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Our offices

Office

Bellevue

11225 SE 6th Street, Suite 240
Bellevue, WA 98004
United States
Office

Seattle

601 Union Street, Suite 5300
Seattle, WA 98101
United States

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