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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

Apr 30, 2021

Seattle Multifamily Welcomes Additional Service Offering

Addition of Jim Schneider and team to Colliers bolsters service offering
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Mar 19, 2021

Colliers Achieves Record Price in Fremont Apartment Building Sale

Colliers Pacific Northwest Multifamily Advisor team of Tim McKay, Dan Chhan, Sam Wayne, and Matt Kemper are pleased to announce the sale of The Portal, a 56-unit mixed-use apartment building located at 743 N 35th Street in the heart of Seattle’s Fremont neighborhood.
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Mar 1, 2021

Colliers Puget Sound 2020 Everest Club Inductees

Five Local Professionals Have Earned a Coveted Spot Among the Top 10% of Colliers Brokers Nationwide
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Feb 18, 2021

Colliers Completes Sale of Ballard Crossing Project

Buyer will redevelop corner parcel in Seattle's Ballard neighborhood into affordable housing and retail
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Stay ahead with industry-leading research

Apr 27, 2021

Q1 2021 Eastside Submarket Office Report

Since the COVID-19 pandemic began, there has been over 3 million sq. ft. of leasing activity (signed deals, but not yet occupied) on the Eastside. It is worth noting that a majority of this activity has been with two companies: Amazon and Facebook. With a momentary reprieve from below-3% vacancy, opportunistic companies are looking to take advantage of built-out sublease spaces, although rental discounts vary, making the economics of each deal unique. After 410,000 sq. ft. of negative net absorption, vacancy increased 120 basis points from 7.7% in Q4 2020 to 8.9% in Q1 2021.
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Apr 27, 2021

Q1 2021 Seattle Submarket Office Report

Anchored by large well-capitalized companies, Seattle has weathered the COVID-19 pandemic well, compared to other large metros. Since Amazon announced a full return to the office, writing off a hybrid office environment where workers split time at home and the office, other companies will give more credibility to that strategy going forward. South Lake Union will see nearly 1.4 million sq. ft. of new product hitting their market. This is well-timed as attention has shifted to companies in the biotechnology and life sciences space. The glut of sublease space (5.5% of inventory) and increase in operating expenses (6.7% from 2020 to 2021) is pressuring rents below their pre-pandemic peaks.
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Apr 27, 2021

Q1 2021 Puget Sound Industrial Report

With 3.53M sq. ft. of net absorption in the first quarter of 2021, any remaining Covid-related uncertainty surrounding Industrial product in Puget Sound was quickly erased, likely turning to optimism extending into the foreseeable future. In-line with the rest of the US, warehouse space supporting e-commerce and 3PL continued to carry the region, accounting for 96% of that absorption number and fueling aggressive rent growth (2.8% to $0.80/sf over the quarter, potentially growing another 6% by 2022). Kent Valley warehouse space saw 1M sq. ft. of net absorption, and Pierce County space saw 1.78M sq. ft. of net absorption, pushing this quarters aggregate amount to the highest on record. The Northend warehouse market also saw strong positive absorption for the second straight quarter, seeing 285K sq. ft. of space absorbed. Though deliveries are down 56% over the quarter at 595K sq. ft., construction on the 5.74M sq. ft. pipeline has continued generally unabated with 3.6M sq. ft. set to deliver next quarter. Investment sales by price volume increased over the quarter (119%) and year (168%) to $862M, paced by Alexandria Real Estate’s $200M purchase of Canyon Park Business Center in Bothell (a flex asset), and a dearth of warehouses trading hands.
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Apr 9, 2021

Q1 2021 Puget Sound Office Market Report

A year ago, the quarter ended in state-mandated shutdowns due to the still-novel coronavirus. The future was uncertain as offices closed more suddenly than at any time in modern history. Now, there is a light at the end of the tunnel with three vaccines against COVID-19 making their way through Washington state. This confidence has led to significant increases in tour activity and leasing discussions, although these deals are unlikely to result in positive absorption in the near-term as deals negotiated now may not occupy space until early next year. Two notable developments in Seattle, Onni South Lake Union and The Jack, have been put on hold by their developers, while all projects in Bellevue remain active. Appetite for office product is much higher when life science tenants are involved, which is not an industry that can operate outside a physical building. Alexandria Real Estate Equities has made a big play in Bothell, a notable emerging life science cluster, that will complement Seattle’s South Lake Union cluster.
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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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Tenant Advisory Group | Puget Sound

Colliers International’s Tenant Advisory Group is a brokerage team specializing in tenant representation and occupier services for office space in Seattle and Bellevue.
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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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