City Series: Seattle – Where Retail Options Make Others Green with Envy0 Comment
Seattle, dubbed as the Emerald City, makes it rain with a variety of retail. Having more to offer than fish markets and coffee house culture, the Seattle metro serves as home base for many retailers including Starbucks, REI, Amazon, Costco and Nordstrom. Because of this, the city gets more than its fair share of buzzworthy retail, like the huge Starbucks Roastery, the cashierless Amazon Go and the first Amazon bookstore.
Within the Pike Street corridor, the tenant mix has remained a stable collection of mostly restaurant and apparel. Positioned between two key business zones, the corridor serves traditional office workers in Seattle’s central business district as well as the tech workers of South Lake Union, where Amazon has located its growing corporate campus.
Continue to keep an eye out for retail activity in the Pike Street corridor as it’s seen an expansion with an annual rent growing more than 18%.
Don’t forget to download our Seattle City Retail report to learn all about the Pike Street retail corridor and view its average asking prime retail rents, annual rent growth rates and average cap rate ranges.