The volume of space sought by tenants in the Kent Valley has continued to increase throughout Q2 and shows no signs of slowing.
A scarcity of product in the Tacoma area will force tenants to search elsewhere for space. Some of the largest leases in the region continue to be signed in the Tacoma region, including the 451,151 sq. ft. signed by Costco at Northwest Gateway @ Dupont. An undisclosed tenant signed for 300,942 sq. ft. at Canyon Road Logistics in Frederickson with Exeter Property Group.
In a spillover from the Eastside market, Seagen, a biotech company, leased a 258,000 sq. ft. site for manufacturing in Everett with developer Dermody who is able to break ground quickly on the site.