Lacey Vacancy Rates Continue to Decline



Lacey Vacancy Rates Continue to Decline

Vacancy Rates 2Q 2018 2Q 2017 Change
Type Vacancy Rate Vacancy Rate Vacancy Rate
Industrial 1.6% 5.8% -4.2%
Office 4.9% 9.0% -4.1%
Retail 3.0% 3.8% -0.9%
Total 2.9% 6.2% -3.3%


Year-over-year comparisons of Lacey’s industrial, office, and retail space show that vacancy rates continue to decline.

–The huge glut of vacant office space left over from the great recession and departure of many state offices from the Woodland Square area has been largely reduced.

–The vacancy rate for industrial space is very low: not surprisingly we have had pre-submission conferences for more than two million square feet of new industrial space in the last several weeks.

–Given the retail apocalypse, Lacey’s retail vacancy is surprisingly low.  For comparison to national trends, Lacey’s retail vacancy is currently 3%.  Retail vacancy in the Madison Avenue shopping area in New York City is currently standing at 27%.

It is clear that the Lacey market is recognized as a great place to operate a successful business, and more business people are realizing it every day. To see for yourself the properties available for sale or for lease in Lacey, please visit our Available Properties page.

August 3, 2018
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