| Blog |
| East Snohomish County Commercial Market Update |
| July 14th 2009 |
The following is a “reprint” from my Commercial Real Estate Newsletter. If you’d like to receive a print or email copy, let me know. In this month’s issue we’ll review the market in eastern Snohomish County. This report covers Snohomish, Monroe, Sultan, Gold Bar, Index and spots in-between. Like the residential market, the commercial market has been hit hard by financing problems and the overall down-trend in the economy. Fewer new businesses are opening, existing businesses are cutting back or at best, not expanding. Most experts are expecting things to get worse in the commercial market over the next year as loans come due and owners can not refinance. Definitely, the power in negotiations is changing to the buyers and tenants. Along with price changes, concessions by sellers and landlords are becoming more common. Here are the current statistics according to data available from the Commercial Brokers Association (CBA) database. Current For Lease PropertiesIndustrial
Land
Mixed Use
Office Only
Office/Retail
Retail Only
Recent SalesSince the beginning of the year there have been 4 sales recorded by CBA:
Jason Hershey, Commercial Agent Cell: 425-417-5389 www.nwcommercialre.com |
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