Puget Sound Industrial Market Softens, but Leasing Momentum Remains in Select Submarkets

The Puget Sound industrial market entered a recalibration phase in Q2 2025, as rising vacancy and negative net absorption reflected shifting tenant demand and macroeconomic uncertainty. According to Lee & Associates’s quarterly report, the region posted net absorption of negative 1.5 million square feet, pushing the overall vacancy rate to 8.6 percent, the highest in […]