We all know sector rotations are common in real estate markets. Regardless of Seattle commercial real estate cycles a “good deal is a good deal”. Revenue growth is what every investor looks for in commercial real estate. Incremental yearly growth of 2-3% is national average and normal in most Seattle lease agreements. An investor should expect 2-3% increases in expenses depending on quality of management and building construction.

A good deal is a good deal in any market.

Now lets look at the industrial sub-sector where Seattle yearly revenue growth has peaked 9% in 2016. Top graph below displays Seattle overall industrial growth and the chart below displays N. Seattle retail growth in price per square foot.


Data-Driven Investments



2016 Peak Graph


Rare opportunity to observe growth between retail and industrial sub-markets. Interesting to note industrial in Seattle peaked one year earlier than retail. Analytics is not the only approach to finding a good deal, but it certainly helps to know the numbers.

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Repositioning is to determine all best uses and selecting the best one. Best use deliberation is actual construction costs necessary to attract desirable new tenants. A keen understanding of markets and clever construction applications is critical for best repositioning efforts.


Industrial is making a comeback in demand, not for manufacturing as much, but rather logistics. Big box distribution companies need large warehouse storage and delivery facilities all across America. Some preferred locations to invest are inside urban cores and near transportation hubs like railroads, airports and shipping docks.


Office is on shaky ground in 2020. Best office investments are in the A plus category with tech companies being the most attractive tenants. Clever repositioning for B minus categories will probably be required to accommodate the newer economy.


Multifamily development is normally in strong demand. Labor and materials are expensive and cover most of your development budget. To determine your investment rate of return you need to consider projected revenues. If you plan on upgrading mechanical and structural systems you must incorporate clever repositioning strategies.

Land Acquisition

Land acquisition is normally the first prelude to development. A forensic study regarding zoning, critical areas, soil conditions, etc. is necessary to ensure project compatibility.