Puget Sound Retail Figures Q2 2026

— The Seattle retail availability rate held at 4.0% in Q2 2026, tightening 10 basis points from Q1 2026.

— Net absorption reached 91,000 sq. ft. in Q2 2026, up sharply from 1,000 sq. ft. in Q1 2026, driven by major lease signings in downtown Seattle and the Northend.

— Deliveries fell to 6,000 sq. ft. in Q2 2026, down from 36,000 sq. ft. the prior quarter, reflecting continued developer restraint.

— The overall average asking rental rate held steady at $25.17 per sq. ft., triple net (NNN), down only $0.02 from Q1 2026. The Eastside, the market's tightest submarket, recorded the highest average asking rental rate at $38.09 per sq. ft., NNN.

— Retail investment sales amounted to $200 million in Q2, an increase of 8.7% from the previous quarter’s $184 million sales volume. Institutional capital targeted grocery-anchored and power center assets, while owner-users absorbed freestanding and private investors targeted strip centers.