Seattle’s industrial market heads into 2026 with record availability and its weakest rent growth since the Great Recession. With a persistent supply overhang and slack demand, tenants are likely to continue holding negotiation leverage in 2026.
The Puget Sound industrial market faces a 2026 reset
Stalling rent growth and elevated vacancy create a tenant’s market
CoStar Analytics
December 10, 2025 | 6:27 P.M.
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