Puget Sound Industrial Real Estate: 2024 Review & 2025 Forecast

In this episode of the Industrial Advisors podcast, Bill Condon and Matt McGregor discuss the recent trends and data in the industrial real estate market, focusing on Q4 2024 and projecting ahead to 2025. They highlight a notable reduction in vacancy rates in the 100,000 to 200,000 square foot range, signifying increased market activity. Investment momentum has doubled from 2023 to 2024, and user sales are at their highest since 2007-2008. They also discuss the challenges and creativity needed for landlords to secure tenants in the current market environment. The episode covers market adjustments, such as delayed spec developments, and breaks down vacancy rates across different property sizes. Predictions for 2025 indicate a gradual improvement in both leasing and investment activities 01:02 - 3 Facts and an Opinion 03:29 - Development Insights 09:07 - Understanding Vacancy Rates 12:39 - Investment Sales Trends 13:44 - Largest Move-Out Analysis 14:25 - Port Statistics Overview 14:41 - Q4 Recap & 2024 Outlook 15:04 - Predictions for 2025 15:41 - Thanks for Listening You can find every episode of this show on Apple Podcasts, Spotify or YouTube, For more, visit industrialadvisors.com