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Puget Sound Industrial Second Quarter 2009:
Weathering the Recessionary Storm
The Puget Sound industrial market has shown viability over the first two quarters of 2009, despite a national real estate recession. However, even as one of the more resilient markets in the nation, the Puget Sound industrial market has shown signs of softening. The Puget Sound has witnessed the loss of nearly 116,000 employees and unemployment has risen from 9.1% to 9.4% in Q2 2009 with nearly 327,430 people looking for work. Regional contraction in the industrial market has pushed nearly 700,000 square feet (SF) back into an already saturated market. The Puget Sound has made it through the first two quarters relatively unscathed, however it remains to be seen how quickly the industrial markets can rebound.
Contact Alana Ness at 206.223.1262 for more information.
  2Q09_industrial_report.pdf
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