seattle Industrial Market Report
By CREhunt Research · Data through Q1 2026 · Aggregated from Savills, JLL, CBRE, Lee & Associates, Newmark, Cushman & Wakefield
Quarterly industrial market indicators for seattle, aggregated by CREhunt from Savills, JLL, CBRE, Lee & Associates, Newmark, Cushman & Wakefield. As of Q1 2026, vacancy was 11.5%, per Savills.
Projected current industrial pricing — seattle
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 multiple brokerages data (cap rate 5.8%, asking rent trend-adjusted to today). Assumes ~89% occupancy and a 72–88% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 Savills | — | 11.5% | — | — | Savills |
| Q1 2026 JLL | $12.84/SF/yr | 10.3% | — | — | JLL |
| Q1 2026 CBRE | $13.56/SF/yr | 11.0% | — | — | CBRE |
| Q1 2026 Lee & Associates | $14.72/SF/yr | 9.7% | — | — | Lee & Associates |
| Q4 2025 Newmark | $13.08/SF/yr | 12.3% | — | — | Newmark |
| Q4 2025 Cushman & Wakefield | $11.40/SF/yr | 9.2% | -426K SF | — | Cushman & Wakefield |
| Q3 2025 Newmark | $14.14/SF/yr | — | 3.6M SF | — | Newmark |
| Q2 2025 Newmark | $12.59/SF/yr | 7.3% | — | — | Newmark |
| Q4 2024 Newmark | $12.67/SF/yr | — | 3.5M SF | — | Newmark |
| Q3 2024 Newmark | $12.82/SF/yr | 7.0% | 1.2M SF | — | Newmark |
| Q2 2024 Newmark | $12.97/SF/yr | 6.5% | 69K SF | — | Newmark |
| Q1 2024 Newmark | $12.86/SF/yr | 6.0% | — | — | Newmark |
| Q4 2023 Newmark | $13.09/SF/yr | 5.6% | — | — | Newmark |
| Q2 2023 Newmark | $12.40/SF/yr | 4.3% | — | — | Newmark |
Industrial asking rents by submarket
The newest asking rent a named brokerage's report published for each seattle industrial submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| Puyallup | $2.00/SF/mo Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Queen Anne to SODO | $2.25/SF/mo Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| South Seattle | $1.78/SF/mo Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
Frequently asked questions
- What is the average asking rent for industrial space in seattle?
- CREhunt aggregates industrial asking-rent data for seattle from major brokerage market reports; see the quarterly table for the latest available figures.
- What is the industrial vacancy rate in seattle?
- The industrial vacancy rate in seattle was 11.5% as of Q1 2026 (Savills).
- Where does CREhunt's seattle market data come from?
- This report aggregates quarterly industrial market data for seattle from Savills, JLL, CBRE, Lee & Associates, Newmark, Cushman & Wakefield.