Why Seattle Remains On Growth Trajectory (Hints: Tech, Overseas Investors)

One thing about a sustained boom is it sometimes ends with a thud. According to the Seattle market experts who will be at Bisnow's Seattle State of the Market event Sept. 15, however, that isn't likely in the foreseeable future.

Photo credit: Courtesy of Urban Renaissance
Urban Renaissance Ceo Pat Callahan

Urban Renaissance CEO Patrick Callahan, who will be a speaker at the event, tells us he's not worried about the health of the Puget Sound real estate market during the rest of 2016 and ’17. "I'm bullish on the office market in both Seattle and Bellevue," he says. "The prospect pipeline is robust and demand will likely outpace new supply. Given the amount of new supply, that's a significant statement."

Photo credit: Bisnow

JLL managing director Stuart Williams (left, snapped at a previous Bisnow event) tells us his company continues to be bullish—there's that word again—about the Puget Sound office market due to low vacancy rates, high rental rates and strong demand, especially by tech tenants, including both local companies and those headquartered in other markets who want to grow in the Puget Sound area.

"We also see continued strong demand by buyers, especially foreign buyers who now see Seattle as one of the top investment markets in the country," Stuart says.

Come hear more from Patrick and Stewart and our other speakers at the Seattle State of the Market, beginning at 7:30am Sept. 15 at the Shearton Seattle Hotel.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Seattle Newsletters
Related Stories

How HCMP's Deep Puget Sound Roots Help Developers Get CRE Projects Approved And Built

Amazon Plans To Shave Millions Of Square Feet Off Its Office Footprint

Wall Street Impatient For Big Tech Returns On Data Center Spending

As AI Adoption Ramps Up, Half A Million Property Managers Are In The Crosshairs

Treasuries Hover Around 4.7% As Wall Street Questions If Warsh Is A 'Dove In Hawk's Clothing'

Avison Young Had Assets Frozen By Bank Over Unpaid Taxes

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Churchill Downs Plans To Sell 9 Casinos, Focus On Horse Racing

Bringing Stability And Savings To CRE Insurance Through Working Layer

More Hotel Owners In Need Of Cash Are Getting It From The Big Brands

Former Arms Dealer Targeting Heartland Apartment Takeover Files For Bankruptcy

SEC Charges REIT, Its Founders With Alleged $152M Fraud Scheme