December 11, 2003

Insights Program looks at commercial real estate


The Commercial Brokers Association (CBA) held its 7th Annual Commercial Real Estate Insights Breakfast Dec. 10 at the Grand Hyatt Hotel in Seattle.

The program brought together experts from different segments of the commercial real estate industry with local, national and international perspectives, to give their best insights into the business for the near- and mid-term.

This year's slate of speakers included: Jim Carbone, partner with Rreef Investments, Northwest Markets; Mic Dinsmore, chief executive officer with the Port of Seattle; Dave Sabey, president and CEO of the Sabey Corp.; John Solberg, president and CEO of Opus Northwest; and Mark Weed, president and CEO of Fisher Properties.

CBA, a not-for-profit cooperative organization, continues its evolution from a multiple listing service for commercial real estate to a comprehensive database of commercial properties for sale and for lease.

Beginning in 1977, CBA was formed by the commercial real estate brokerage community to create a vehicle for member brokers to share information about available commercial properties with each other. Today, with over 2,600 members and 8,000 properties, CBA provides the most comprehensive database of information about commercial properties in the Pacific Northwest.

With information about available properties, recent sales and statistical information about market performance, CBA members are able to provide their customers and clients complete and accurate information about the commercial real estate marketplace.

Investment - Price Per Square foot
  Office Industrial Retail
Seattle CBD $191.41 $125.37 $265.19
Bellevue CBD $211.85 $114.45 $257.47
Snohomish $322.64 $120.16 $313.00
South Sound $191.76 $99.10 $196.83
Tacoma CBD $102.24 $97.62 $123.16
Information courtesy of the Commercial Brokers Association

Office Space For Lease
  Avg Rent Vacancy Total Sq. Ft
Seattle CBD $19.95 14.71% 50,249,789
Bellevue CBD $15.93 15.55% 32,775,400
Snohomish $16.67 18.04% 5,484,517
South Sound $16.61 22.21% 10,967,829
Tacoma CBD $15.64 10.17% 3,558,994
Information courtesy of the Commercial Brokers Association

Retail Space For Lease
  Avg Rent Vacancy Total Sq. Ft
Seattle CBD $18.81 15.92% 6,359,992
Bellevue CBD $20.13 7.76% 9,391,281
Snohomish $15.11 11.83% 9,240,387
South Sound $15.15 16.54% 8,669,791
Tacoma CBD $13.62 11.63% 2,953,614
Information courtesy of the Commercial Brokers Association

Tricia Deering is executive director of the Commercial Brokers Association.

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