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There is a wide array of commercial real estate in Washington State available to investors, and Teletare’s team of experienced brokers can help you find the perfect property to add to your portfolio. We regularly have over 200 commercial lots listed on our website, making it easy to find a property that suits your needs.
To help inform investors on the Washington State commercial real estate market, we’ve gathered some key information that should provide some useful insights.
Washington’s economy continues to be extremely strong, with WalletHub recently ranking the state’s economy as the best in the country. According to the study, here’s how Washington ranked in some key areas:
So, what can we expect from the economy moving forward? Washington State’s most recent economic forecast predicts steady growth over the next five years, including:
Overall, investing in commercial real estate in Washington State is a smart move. The state is home to large companies such as Amazon and Microsoft, and the tech industry here is expected to continue to grow. These high-paying jobs should continue to fuel the economy which bodes well for the commercial real estate market.
At the time of this writing (March 2020), Washington commercial loans are starting at 3.34%.
At the end of 2019, the Fed indicated that no major changes are expected for interest rates over the next year, so we can expect rates to remain low for the time being. This makes it an opportune time to invest in commercial real estate.
As you can expect, there has been plenty of investor activity in Washington State of late. Seattle continues to be a hotspot for activity, with a Dallas-area company currently planning an 11-story hotel near the Space Needle and a San Francisco Development Company acquiring a Seattle property near Stone Way being the most recent news.
The area has also become extremely popular among foreign investors, with billions being poured into commercial real estate over the last few years from China and other countries.
Before purchasing a property in a market, you’ll need to be aware of any rules and regulations that might impact your investments. Here are some key facts about Washington State:
With few regulations surrounding commercial leases, and lower tax rates, Washington State remains one of the top candidates for commercial real estate investment in the US.
Are you interested in investing in commercial real estate in Washington State? Our experienced brokers are available to assist you with any questions you might have.