Downtown Seattle Draws Nearly 3.8MM Visitors in August, Topping 2019 as Office Return Holds at 62%
Nearly 3.8 million unique visitors and 9.2 million total visits flowed into downtown Seattle in August, pushing tourism, hotel demand and residential occupancy...
Unico Retail Property Near Pike Place Market in Seattle Enters Receivership After $14.5MM Default
The collapse of First and Union’s occupancy traces to Pike Brewing Company’s November 2025 closure of its 30-year flagship taproom, a loss that...
City of Bellevue Approves Koz’s 188-Unit Micro-Apartment Project in BelRed
Bellevue approves Koz Development's 188-unit Koz on BelRed, with 76 percent of units set aside as affordable micro-apartments.
Wright Hotels Lists 170-Acre Semiahmoo Resort in Blaine for $27.5MM
A Seattle ownership group that rescued a shuttered waterfront resort near the Canadian border 13 years ago is now testing whether the market...
Mercy Housing Northwest Plans 158 Affordable Units on Former ESCO Site in Portland
Mercy Housing Northwest’s two-phase filing for family-sized apartments on Northwest Portland’s former ESCO site tests whether the city’s years-long push to rezone industrial...
369-Unit Modera Bridle Trails Opens in Kirkland on Former TechCity Bowl Site
A Kirkland bowling alley that entertained Eastside families for nearly seven decades has given way to a 369-unit apartment community now welcoming its...
Taylor Morrison Acquires 3.42-Acre Rose Hill Village Site in Kirkland for $27MM
Taylor Morrison’s $27 million purchase of the former Kelly-Moore Paint site pays MainStreet Property Group a 32 percent gain since 2022, underscoring how...
Mercy Housing Northwest Plans 158 Affordable Units on Former ESCO Site in Portland
Mercy Housing Northwest’s two-phase filing for family-sized apartments on Northwest Portland’s former ESCO site tests whether the city’s years-long push to rezone industrial...
Formation Report Finds Seattle Manufacturers Being ‘Priced Out,’ With Factory Jobs Down Nearly 12%
Formation's assessment of Seattle's economy places manufacturing and other traded industries in a 'priced out' category, finding factory firms and jobs have contracted...
The First Footprints in the Snow
AI’s hit to jobs looks like a rounding error—until you see who’s in the oven: gutted call centers and vanishing entry-level work. Narrow...
Onni Group Lands $41.7MM Financing to Advance Long-Delayed Block V Towers in Seattle
Eight years after paying $78.75 million for a pair of Denny Triangle parking lots, Onni Group has landed $41.7 million in financing and...
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...
Mercy Housing Northwest Plans 158 Affordable Units on Former ESCO Site in Portland
Mercy Housing Northwest’s two-phase filing for family-sized apartments on Northwest Portland’s former ESCO site tests whether the city’s years-long push to rezone industrial...
Knights Commit $1.1B to Providence for Oregon’s First Women’s Hospital
Phil and Penny Knight commit $1.1 billion to Providence, funding Oregon's first women's hospital and heart care expansion.
Hexagon Energy, Weyerhaeuser Strike Deal for 3 GW of Geothermal Potential Across 145,000 Acres
Hexagon Energy leases geothermal rights on 145,000 acres of Weyerhaeuser timberland in Oregon and Washington, targeting 3 GW of clean power.
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...
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 Reading
Downtown Seattle Draws Nearly 3.8MM Visitors in August, Topping 2019 as Office Return Holds at 62%
Nearly 3.8 million unique visitors and 9.2 million total visits flowed into downtown Seattle in August, pushing tourism, hotel demand and residential occupancy...
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...
The First Footprints in the Snow
AI’s hit to jobs looks like a rounding error—until you see who’s in the oven: gutted call centers and vanishing entry-level work. Narrow...
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...
Seattle-Area AI Adoption Climbs Toward 28% as Puget Sound Office Vacancy Holds Near 28%
New federal survey data show businesses across the Seattle metro adopting artificial intelligence faster than the national average, handing the region's battered office...
AquaSox Warn of Relocation as Everett’s $120MM Stadium Financing Nears Deadline
Everett’s plan to keep its minor league baseball team downtown is colliding with a hard truth about stadium finance: land and design work...
Knights Commit $1.1B to Providence for Oregon’s First Women’s Hospital
Phil and Penny Knight commit $1.1 billion to Providence, funding Oregon's first women's hospital and heart care expansion.
Davis Property & Investment Secures $12MM Refinance for Center Plaza Industrial Park in DuPont
Life-insurance lender Securian Financial backed Davis Property & Investment’s $12 million refinancing of Center Plaza in DuPont, a bet on the multi-tenant industrial...
Wilson Sonsini Plans $5.8MM Build-Out at U.S. Bank Center in Seattle
A city permit shows Wilson Sonsini's $5.8MM build-out on two floors of Seattle's nearly half-vacant U.S. Bank Center.
Nike-Leased Millikan 73 Innovation Center in Beaverton Hits Market at $32.6MM
Newmark markets the Nike-leased Millikan 73 Innovation Center in Beaverton at $32.6MM, a mission-critical Nike Air manufacturing facility.
Hexagon Energy, Weyerhaeuser Strike Deal for 3 GW of Geothermal Potential Across 145,000 Acres
Hexagon Energy leases geothermal rights on 145,000 acres of Weyerhaeuser timberland in Oregon and Washington, targeting 3 GW of clean power.
Formation Report Pinpoints Seattle-Bellevue Tax Gap as Prime Driver of Eastside Office Migration
Formation's assessment of Seattle's economy models a per-engineer tax gap of $10,000 to $30,000 a year between Seattle and neighboring Bellevue, offering a...
