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.
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."
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.