|Puget Sound News & Reports
|Corfac International - Affiliate
CORFAC International is a Network of Independently Owned Entrepreneurial Firms and Affiliates in
Individual Markets. Established in 1989 as a non-profit association, the organization invites firms to join
the network based on geographic markets and the ability of the firm to respond to the requirements of
clients and colleagues for services. http://www.corfac.com
B R I A N B R U I N I N K S, CCIM
Construction Finally Catching Up with Demand in U.S. Logistics Sector
CoStar News, 11/11/2015
A string of quarterly declines in the U.S. warehouse and logistics vacancy rate stretching back to 2009 ended
in the third quarter as a rising wave of construction added more space than was leased by tenants.
Industrial Real Estate Investors Lining Up to Tap Improving Warehouse Market
CoStar News, 5/8/2013
With demand expected to outpace supply through 2014 and rents finally beginning to rise again, commercial
real estate investors are increasingly interested in placing capital in the U.S warehouse sector.
With Cap Rate Spreads Rising, Are CRE Investments Becoming Riskier?
National Real Estate Investor, 6/12/2012
Despite cap rate compression over the last 24 months, cap rate spreads over 10-year U.S. Treasuries have
actually been increasing since the middle of 2011. Does this mean markets are reflecting rising risk in
commercial real estate investing?
Investors Weigh In on Outlook for 2012
U.S. investors should prepare for commercial real estate’s sluggish growth rate to continue in 2012,
according to the 33rd annual Emerging Trends in Real Estate® 2012, a joint report from
PricewaterhouseCoopers and the Urban Land Institute that surveys 950 commercial real estate industry
For the complete article, please click the title heading above.
CORFAC ranks in Top 12 Commercial Real Estate Companies
Commercial Property Executive and Multi-Housing News, 2/7/2011
The selection criteria included sector involvement, business area focus, geographic concentration, longevity,
growth and revenue.
City Of Renton, Boeing Company Sign Historic Airport Lease
Airport Business, 5/21/2010
The city of Renton issued the following news release:
Today, Renton Mayor Denis Law, City Councilmembers and The Boeing Company finalized a new long-term
lease agreement for Renton Municipal Airport. The base lease term is 20 years, and it includes two 10-year
Amazon adds 180,000 square feet to S. Lake Union space
The Seattle Times, 3/17/2010
Amazon.com's big footprint in Seattle's South Lake Union neighborhood just got about 10 percent bigger.
The online retail giant has leased 180,000 square feet of office space in Vulcan Real Estate's recently
completed 2201 Westlake building, the companies said.
Employment data lift hopes but where are the jobs?
The Seattle Times, 3/5/2010
At last, the unemployment crisis seems to be easing. That's the good news.
The bad news? Job creation remains scant because companies still lack enough confidence in the economy
to ramp up hiring.
The U.S. jobless rate held steady at 9.7 percent in February. And employers cut 36,000 jobs - fewer than
predicted. Those figures signaled that the job market is slowly healing.
Empty office spaces soar in downtown
The Seattle Times, 1/20/2010
Empty office space in downtown Seattle has climbed to levels not seen in decades.
The total vacancy rate hit 21.1 percent during the fourth quarter, according to statistics released Tuesday by
brokerage Cushman & Wakefield. That's "a record vacancy for downtown Seattle," senior director Matt
Report suggests a year of high unemployment ahead
The Seattle Times, 1/8/2010
Brace for a year of stubbornly high unemployment.
Gripped by uncertainty over the economic recovery, employers chopped 85,000 jobs last month, and difficulty
finding work helped chase more than half a million people out of the job market.
Washington state features high on rankings
Pierce County Economic Development Board, 12/1/2009
In calculating its 2010 State Business Tax Climate Index, the non-profit non-partisan research organization
Tax Foundation finds Washington State to be one of the top 10 best states when it comes to business taxes.
Weak jobless claims, future economic activity data
The Seattle Times, 11/19/2009
A gauge of future economic activity and a report on unemployment benefits signaled Thursday that the
recovery likely will remain weak in the coming months.
The Conference Board's index of leading economic indicators rose less in October than analysts had
expected. The index forecasts activity by measuring consumer expectations, building permits and other data.
Construction backlog grows in September
Puget Sound Business Journal, 11/16/2009
The number of construction projects under way nationwide showed a slight uptick in September, according to
data collected by Associated Builders and Contractors.
The organization reported Monday 5hat the nation’s Construction Backlog Indicator, known as the CBI,
reached 5.9 months in September — 3.2 percent higher than in August. The backlog for the Northeast rose to
6.2 months in September, up 7.3 percent from August.
16,000 more jobs cut in state in September
The Seattle Times, 10/13/2009
The grim news for Washington working people continued last month as employers shed 16,000 more jobs,
according to the latest report from the state Employment Security Department.
The state's unemployment rate rose to 9.3 percent, adjusted for seasonal variations, from 9 percent in
August (which was revised down from the 9.2 percent initially reported).
Concern rising as flood season nears in Green River Valley
The Seattle Times, 10/10/2009
Heavy storms haven't hit, but residents and business owners in the Green River Valley, south of Seattle, are
already on flood alert.
Memories of last January's flooding, structural concerns with the leaky Howard Hanson Dam and last
month's news that business owners in the low-lying areas of Kent, Auburn, Tukwila and other communities
would not be able to get adequate levels of flood insurance have many residents worried.
Construction spending up slightly
Puget Sound Business Journal, 10/1/2009
Construction spending rose 0.8 percent in August to a seasonally adjusted rate of $941.9 billion, above the
revised July estimate of $934 billion.
The August figure is 11.6 percent lower than a year ago, according to the U.S. Department of Commerce.
Russell pays $115M for JP Morgan Chase building in Seattle
Puget Sound Business Journal, 9/10/2009
County property records show Northwestern Mutual Life Insurance Co. paid just $115 million for Washington
Mutual’s former headquarters building, a 42-story office tower that cost an estimated $350 million when
completed in 2006.
The sales price amounts to $132 a square foot, well below the estimated $450 a square foot that office
properties in downtown Seattle and Bellevue fetched when Equity Office Properties Trust sold its portfolio to
Boston-based Beacon Capital in early 2008.
Seattle office values sink for first time in 7 years
Puget Sound Business Journal, 8/28/2009
The recession and the credit crunch have driven down the assessed value of office towers in King County for
the first time in seven years.
As of Jan. 1, 2009, the date used for assessment purposes, the combined assessed value for big office
buildings was about $13.6 billion, down 11.8 percent from $15.4 billion in 2008. It’s the first time that office
buildings’ assessed values have declined since 2002.
49 of 50 states lose manufacturing jobs
Puget Sound Business Journal, 8/27/2009
Every state but Alaska lost manufacturing jobs during the past 12 months, according to a Business First
analysis of new federal data.
The state of Washington lost 26,700 manufacturing jobs in the past year.
The Andover Company is
associated with CORFAC
International, a select group of
national and international corporate
real estate firms.
Visit CORFAC's website:
Direct 206.336.5324 Cell 206.856.6249 Email Brian 900 SW 16th Street, Ste 100, Renton, WA 98057