Commercial Real Estate
Seattle & Bellevue commercial real estate advisory.
Buy, sell, lease, or reposition life sciences, industrial, multifamily, office, retail, and investment property across Bellevue, Seattle, the Eastside, and the broader Puget Sound.
Ready buyer advisory
Site, income, lease, and market signals reviewed before the first serious offer.
Buy commercial property
Owner-user buildings, investment assets, multifamily, mixed-use, retail, office, and land opportunities evaluated through local underwriting.
Learn more →Sell commercial property
Pricing, buyer-pool strategy, confidential marketing, lease analysis, and negotiation guidance for Puget Sound owners.
Learn more →Lease space
Tenant representation for office, retail, medical, restaurant, industrial, and flex users comparing sites and lease terms.
Learn more →List space for lease
Landlord representation for market rent positioning, tenant targeting, lease-up strategy, and space presentation.
Learn more →Commercial property valuation
A local read on value, rent roll, cap-rate expectations, lease exposure, condition, zoning, and buyer demand.
Learn more →Seattle CRE Market — 2025–2026
Where Puget Sound commercial activity is concentrating.
Seattle’s commercial market has diverged sharply from the national narrative. While commodity office struggles, five sectors driven by the region’s tech, research, and port economy are generating the highest transaction volume and deal complexity. Understanding which sector your property or acquisition target sits in is the starting point for any accurate valuation or market strategy.
Lab & R&D space
Seattle is a top-five life sciences cluster nationally — driven by UW Medicine, Fred Hutch, Allen Institute, and the biotech companies that have grown around them. Researchers cannot work remotely, making lab and R&D space the most resilient commercial vertical in the region. Lab buildouts require 3× the capital expenditure of standard office, which drives deal complexity and advisory value on both the landlord and tenant side.
Key hubs
- · South Lake Union
- · Eastlake
- · Bothell / Woodinville biotech corridor
The opportunity
Office-to-lab conversion of underperforming mid-rise buildings in SLU and Eastlake — where existing infrastructure, power, and HVAC capacity make conversion viable at below-ground-up cost.
Last-mile distribution
The Northwest Seaport Alliance — Port of Seattle plus Port of Tacoma — is the third-largest container gateway in North America. Combined with Amazon's regional distribution network, industrial vacancy in Puget Sound has held near historic lows through cycles that softened most other CRE sectors. E-commerce demand for same-day delivery requires distribution centers within 10 miles of the city core, exactly where available industrial land is scarcest.
Key hubs
- · Kent Valley (second-largest industrial basin in the western US)
- · SODO
- · Georgetown
The opportunity
Multi-story industrial development and fleet parking for delivery operations on constrained urban land — the model Amazon and Prologis have scaled in Seattle's core markets.
Apartment & build-to-rent
Seattle's housing shortage is structural and persistent. Institutional capital — REITs and pension funds — treats the market as a safe haven given the high-income tech demographic base and chronic undersupply. Even with higher interest rates slowing new starts, existing apartment complexes and build-to-rent projects continue to transact at volume. The strongest new-construction thesis is transit-oriented development near Link Light Rail expansion stations.
Key hubs
- · University District
- · Downtown Bellevue
- · Shoreline / Lynnwood corridor
The opportunity
Adaptive reuse of older and underperforming office buildings into apartments, and TOD site acquisition near Lynnwood Link stations where land values have not yet fully reflected ridership maturity.
AI infrastructure
Microsoft and Amazon are investing billions in the physical infrastructure supporting large language models — and that investment is expanding into the Seattle region's power grid and real estate market. The facilities themselves often locate in South King County or Eastern Washington for lower power costs, but the management, leasing, and development contracts for these projects flow through Seattle-based commercial firms. High power density land — access to large electrical infrastructure — is currently the scarcest resource in Pacific Northwest CRE.
Key hubs
- · Tukwila
- · SeaTac
- · Westin Building Exchange (downtown edge data center)
The opportunity
Sourcing and representing industrial land and buildings with existing high-power infrastructure — the limiting factor for data center development throughout the region.
MOB & outpatient expansion
Providence, Swedish, UW Medicine, and regional health systems are expanding outpatient footprints into suburban markets to serve an aging population closer to where patients live. Medical office buildings (MOBs) carry long-term triple-net leases, creditworthy healthcare tenants, and cap rates that have compressed consistently as institutional capital chases the sector's stability. The suburban Eastside is a primary target for outpatient expansion east of Seattle.
Key hubs
- · Issaquah
- · Redmond
- · Renton
The opportunity
Ground-up and repositioned medical office serving suburban healthcare expansion — a sector where tenant demand consistently outpaces available quality inventory.
Local advisory depth
Commercial advice grounded in Puget Sound micro-markets.
RexMont brings local brokerage experience, Bellevue office presence, and transaction discipline to commercial owners, investors, landlords, and tenants who need a clear decision path — not a generic national CRE firm’s templated approach to a market it doesn’t understand at the submarket level.
11201 SE 8th St, Ste 152
Bellevue, WA 98004
(425) 217-5630
Commercial FAQ
Questions ready-to-act commercial clients ask first.
What commercial property types are most active in Seattle right now?
Life sciences and lab space, industrial/logistics, multifamily, and data center infrastructure are the four highest-volume sectors in 2025–2026. Each is driven by Seattle's position as a tech, research, and port hub — and each requires different underwriting expertise. Medical office buildings are a high-stability parallel track driven by healthcare system expansion into suburban Eastside markets.
Where is Seattle's strongest industrial market?
Kent Valley is the second-largest industrial basin in the western United States — the deepest liquidity pool for industrial transactions in the Puget Sound region. SODO and Georgetown serve last-mile distribution demand closest to the city core, where land constraints and port proximity keep vacancy near historic lows and rents on a long-term upward trend.
How does the Light Rail expansion affect commercial investment?
Transit-oriented development (TOD) sites within a quarter mile of Link stations — particularly along the Lynnwood extension in Shoreline and Lynnwood — are among the strongest multifamily acquisition targets in the region right now. The University District station area has already repriced significantly; Shoreline and Lynnwood sites offer more remaining upside as ridership matures through 2026 and beyond.
How do I value a commercial property in Bellevue or Seattle?
Start with the income approach: rent roll quality, tenant credit, lease term, vacancy exposure, and current cap rate expectations for your specific sector and submarket. Overlay replacement cost, comparable sales, and current debt market assumptions. A sector-specific valuation requires knowing which submarkets are compressing or expanding cap rates in real time — generic averages mislead more than they inform.
Should I sell or lease my commercial property?
The right path depends on cash flow, current tenant demand, your capital needs, hold period, 1031 strategy, and whether buyer demand in your sector is currently stronger than lease-up upside. In industrial and life sciences markets, sell-side demand is strong. In office, lease-up often returns more than a distressed sale. The answer is sector-specific, not universal.
Can RexMont help find off-market commercial opportunities?
Yes. RexMont works with qualified buyers and investors on active, quiet, pre-market, and relationship-driven opportunities across Puget Sound — including owner-users and institutional buyers who prefer a confidential process over broad public exposure.
Working on a commercial acquisition, disposition, or lease?
The Puget Sound CRE market moves on sector timing and submarket knowledge that broad platforms don’t surface. Talk to a RexMont commercial advisor about your specific situation.