98058: A Premier Destination for Commercial Real Estate

Introduction

Located in the heart of the Pacific Northwest, the 98058 area—encompassing parts of Renton, Washington—is a dynamic hub for commercial real estate (CRE). This region offers a blend of strategic location, diverse economy, and robust infrastructure, making it a prime destination for investors and businesses. With a significant presence in industries such as aerospace, technology, and healthcare, 98058 is uniquely positioned to support various commercial property types, including office spaces, industrial properties, and retail establishments.

Economic and Industry Overview

98058 is home to a vibrant economy underpinned by several key industries:

• Aerospace: The proximity to Boeing's facilities in Renton and the broader Seattle area creates strong demand for industrial and office spaces.
• Technology: As part of the greater Seattle tech corridor, there is a growing need for flexible office spaces and innovation hubs.
• Healthcare: The presence of major hospitals and healthcare providers drives demand for medical office buildings and related facilities.

Economic development initiatives, such as those from the Puget Sound Regional Council, further enhance the area's attractiveness by promoting sustainable growth and business investment.

Strategic Location and Transportation Infrastructure

98058 benefits from a strategic location with excellent transportation infrastructure:

• Highways: Easy access to Interstates 5 and 405 facilitates efficient logistics and commuting.
• Airports: Seattle-Tacoma International Airport, a major hub for passenger and cargo flights, is just a short drive away.
• Ports: The Port of Seattle provides critical maritime access for trade and shipping.

These transportation networks offer logistical advantages for distribution, enhance access to labor pools, and provide proximity to both coastal and border markets. For more details, visit the Washington State Department of Transportation.

Commercial Real Estate Inventory & Zoning

The 98058 area hosts diverse CRE submarkets:

• Central Business District (CBD): Offers a mix of office, retail, and mixed-use developments.
• Industrial Corridors: Located near major highways, these areas support warehousing and manufacturing activities.
• Innovation Districts: Emerging hubs for tech and research firms.

Recent zoning changes have introduced incentives for developers, including tax breaks and expedited permitting processes. Explore the City of Renton Zoning Maps for more information.

Major Employers and Institutions

Several major employers and institutions drive CRE demand in 98058:

• Boeing: A significant presence in aerospace manufacturing.
• Valley Medical Center: A leading healthcare provider in the region.
• Renton Technical College: Contributes to workforce development and educational needs.

For a comprehensive list, visit the Renton Chamber of Commerce.

Notable Commercial Developments & Projects

Recent developments in 98058 include:

• Mixed-Use Projects: New developments integrating retail, residential, and office spaces.
• Opportunity Zones: Areas designated to spur economic development through tax incentives.

For detailed development plans, refer to the City of Renton Planning Department.

Building Permits, Planning, and Development Tools

Access essential development resources through the following links:

• City of Renton Building and Safety Department
• Permitting Portal
• Parcel Map Viewer / GIS
• Planning Commission
• Development Code

Market Data & Economic Reports

Explore public data sets to gain insights into the 98058 market:

• U.S. Census Bureau
• City of Renton Open Data Portal
• Brevitas utilizes AI-powered aggregation from public data and internal insights to provide comprehensive market analysis.

Why Use Brevitas for 98058 CRE?

Brevitas offers unparalleled tools for CRE professionals in 98058:

• AI-Driven Discovery: Find ideal properties with intelligent search features.
• Real-Time Market Alerts: Stay informed with the latest market trends.
• Smart Property Pages: Auto-generated listings enhance property visibility.
• Dealroom Collaboration: Seamless integration with brokers and developers.

Explore Brevitas-exclusive listings and leverage premium exposure for your properties. Enhance your investment strategy with Brevitas.