SR 167 Expressway Opens Near Port of Tacoma, Bolstering Kent Valley Freight Corridor
Decades after it was first envisioned, Washington has opened the initial two-mile leg of the State Route 167 expressway near the Port of...
Formation Report Warns Seattle’s Office Vacancy and Tax Base Are Locked in a Downward Spiral
A new independent assessment of Seattle's economy finds the city's record office vacancy and its reliance on a handful of tech employers for...
Seattle Construction Costs Trail National Pace as Q2 Costs Rise 3.48%
Seattle’s non-residential construction costs kept climbing in the second quarter of 2026, but at a pace that continues to lag the rest of...
Construction Underway on Mercy Housing’s 233-Unit Affordable TOD in Kent
Built on a parcel Sound Transit sold at a $6.5 million discount to spur affordable development, Kent Multicultural Village pairs 233 housing units...
Fully Permitted 111-Unit Development Site Hits Market in Columbia City
As Seattle’s multifamily deliveries fell 53 percent year over year, a triangular Rainier Avenue South parcel entitled for 111 units and ground-floor retail...
UW Seeks GC and Architect for $36MM Acute Care Renovation at UWMC Montlake’s Pacific Tower
The University of Washington is hiring a design-build team to convert 18,500 square feet of administrative space back into acute-care beds, a stopgap...
Portland Construction Costs Keep Climbing as Building Employment Falls 8%
Portland’s non-residential builders are paying more for labor and materials even as the workforce doing that building shrinks, a divergence that Mortenson Construction’s...
Trumark Homes Plans 87-Home Sandstone Ridge Community on 18 Acres in Poulsbo
Trumark Homes has selected an 18-acre site in Poulsbo for its first Washington land acquisition since buying local homebuilder JK Monarch in March,...
Four-Home Shoreline TOD Assemblage Nears $11.5MM Sale, Setting Up Guardian Affordable Apartments Near 185th Station
A quartet of single-family owners along Third Avenue Northeast has bundled nearly two acres of midrise-zoned land steps from Shoreline's newest light-rail station...
Absher Breaks Ground on Bellwether Housing’s 53-Unit Affordable Brightwood in Seattle’s Greenwood
A vacant bus parking lot that Bellwether Housing acquired eight years ago from the Boys & Girls Clubs of King County is finally...
Ethos Development and Meritus Property Group List 53-Unit Pine Street Townhomes in Tacoma After $1.1MM Renovation Program
A South Tacoma townhome community has come to market backed by three years of renovation data showing double-digit rent premiums, an unusually well-documented...
South Sound Industrial Splits in Two as Big Tenants Return and Small-Bay Absorption Stalls at 9.8% Vacancy
Lee & Associates' August South Sound industrial report shows overall vacancy easing to 9.8 percent as tenants chasing blocks of 300,000 square feet...
Verdant Development Acquires 438-Unit Oregon Apartment Portfolio for $83MM from Bender Equities
Verdant Development Inc. has purchased two well-occupied Oregon apartment communities totaling 438 units — the 257-unit Oak Vale in Corvallis and the 181-unit...
Prosper Portland Moves to Buy 30-Unit Concordia Apartments for $7.2MM
Portland’s economic development agency is preparing to become a landlord for the first time under a new strategy aimed at keeping newer, well-maintained...
Portland Council Advances $449MM PSU Performing Arts Center, Clouding Keller Auditorium’s Future
Portland City Council voted 8-4 to move planning forward on Portland State University's roughly $449 million, 3,000-seat Broadway house at the University Place...
APANO, Our Just Future Open $58.5MM, 124-Unit Legin Commons on PCC’s Southeast Portland Campus
A coalition of APANO, Our Just Future and Edlen & Co. cut the ribbon on Legin Commons, a 124-unit affordable housing community on...
Swickard Floats Adding Observation Deck Atop Portland’s Big Pink Tower
A helipad that once welcomed some of Portland’s biggest business names could give way to a public observation deck under new owner Jeff...
Vintage Aviation Museum Acquires Historic Tillamook WWII Blimp Hangar for $1 as Roof Repairs Begin
The Port of Tillamook Bay has handed one of the largest wooden structures in the world to a Utah nonprofit for a single...
Pacific Northwest Commercial Real Estate News
2026 Pacific Northwest CRE Rising Stars
Celebrating the Next Generation of Commercial Real Estate Excellence From the tech epicenters of Seattle and Portland to the industrial ports of...
Continue ReadingFormation Report Warns Seattle’s Office Vacancy and Tax Base Are Locked in a Downward Spiral
A new independent assessment of Seattle's economy finds the city's record office vacancy and its reliance on a handful of tech employers for...
Student Housing Is Now an Institutional Asset Class, and Seattle’s U District Is the Northwest’s Proving Ground
Blackstone, KKR and Greystar have made purpose-built student housing a core institutional holding, and the high-rise wave around the University of Washington, unleashed...
Portland Sheds 26,800 Jobs as Apartment Absorption Collapses 76% to 2,150 Units
Seven straight quarters of job losses have drained renter demand out of the Portland apartment market, cutting net move-ins by more than three-quarters...
McNellis: Economists vs. Flipping Coins
Economist: {noun}: someone good with numbers but without enough personality to be an accountant.
McNellis: One House, One Spouse — A Guide to CRE Wealth Preservation
Why razor-thin overhead and the 'one house, one spouse' rule are the keys to preserving wealth in real estate and in life.
McNellis: In Denial Over the New Normal
By John McNellis Developers always crash and burn in the movies. The eternal bad guy, the developers’ heinous plans to pave a beach,...
Seattle v. Bellevue: The Tortoise Wears a Patagonia Vest
Bellevue is trouncing Seattle on occupancy, but occupancy is the lagging indicator—and the talent that fills tomorrow’s offices still wants the messy city...
The Art of the Quiet Exit, A Hudson Pacific Story
Hudson Pacific’s COO resigned with the usual boilerplate denial attached—but after a $572 million annual loss, a scrapped dividend and a stock down...
A Shot in the (Life Science) Arm for Puget Sound
Eli Lilly’s $1.5 billion cash deal for Bothell-based Curevo Vaccine is the kind of validating, capital-attracting exit Puget Sound’s life sciences cluster has...
Verdant Development Acquires 438-Unit Oregon Apartment Portfolio for $83MM from Bender Equities
Verdant Development Inc. has purchased two well-occupied Oregon apartment communities totaling 438 units — the 257-unit Oak Vale in Corvallis and the 181-unit...
Swickard to Acquire 90% Stake in Portland’s 30-Story Park Avenue West
Auto dealership magnate Jeff Swickard is set to take a 90 percent stake in Park Avenue West, averting a foreclosure auction and marking...
Hudson Pacific Extends $1.1B Hollywood Loan as Seattle Leasing Momentum Offsets Studio-Market Strain
Even as Hudson Pacific Properties rides a Seattle leasing surge that has downtown vacancy falling for the first time in six years, the...
Seattle Life Science Stays Tightest of West Coast Hubs as New Construction Halts
Seattle's life science market entered the second half of 2026 with the lowest vacancy of any major West Coast hub and no space...
FTA Clears Everett Link Draft EIS, Advancing 16-Mile Light Rail Line to Downtown Everett as Costs Climb
Sound Transit secured a pivotal federal clearance for its 16-mile Everett Link light rail extension when the Federal Transit Administration signed off on...
XTRA Lease Acquires 9.14-Acre Undeveloped Puyallup Site for $9.9MM
The purchase lands in a Pierce County industrial market carrying the Puget Sound region’s highest vacancy rate at 12.7 percent, even as the...
Sagard Real Estate Acquires 134,000 SQFT Industrial Building in Tukwila for $24MM
Sagard Real Estate has added another Puget Sound warehouse to a Pacific Northwest industrial buying spree that has now touched four separate submarkets...
Seattle-Tacoma Retail Vacancy Holds at 4.7% as Small Tenants Steady Market
Tacoma posts the West Coast’s lowest vacancy among major submarkets even as its asking rents climb nearly 30 percent since 2019. Three straight...
