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Kent officials highlight industrial rent gains, $1 billion 509 investment and new marketing push for Nathan property
Summary
Economic and community development staff told the Kent City Council the Kent Valley is commanding a rent premium, in part because of a major 509 transportation investment and rising industrial demand; staff said the city will release a request for proposals this month to market the Nathan property after new highway and power access improvements.
Bill Ellis, who presented the city—s economic and community development update at the Kent City Council meeting on May 6, told the council the Kent Valley has begun to command a rent premium for industrial space compared with nearby Tacoma and remains an attractive option for investors despite broader trade and economic uncertainty.
"The rent growth in the Kent Valley has been remarkable and strong and is actually differentiating itself," Ellis said. He attributed part of that strength to recent stockpiling at warehouses, large aerospace leases in Puget Sound and Kent's geographic advantages for freight and reverse commuting.
Ellis emphasized a major transportation project he…
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