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Commercial Sales Summary for February 2011 – King, Pierce, and Snohomish Counties

Below is a summary of sales for February 2011, from the Commercial Broker’s Association (CBA). I note the source because it is likely that not all sales that occurred are included. CBA data is a mixture of sales reported by their member agents and researching of sales that happened outside the system.

February 2011 Sales

King County-King County continued its strong sales trend from January, with another 29 commercial property sales closed. 4 property sales were foreclosure trustee sales. Sales were primarily of Industrial and Retail properties. There were 4 office property sales (2 of which were foreclosures).

The average price per square foot for each property type was: Industrial-$53/SF, Retail-$106/SF, and Office-$106/SF.  Commercial land sales averaged $111/SF

Pierce County-Pierce County had a major drop in sales from January’s 13, with only 5 sales closed in February. There was one Office building and one Commercial Land sale.

3 of the sales were of Retail properties, averaging $91/SF, and there were no Industrial property sales.

Snohomish County-There were 8 sales were reported by CBA in February, up slightly from January. In a major switch from January, when most all the sales were of Industrial properties, February sales were almost all Office properties. There was only one sale each of Industrial, Retail, or Commercial Land properties. The Office sales were scattered throughout the southern half the county. Two were foreclosure sales.

The average price per square foot for these Office properties was $107/SF.

 

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