Pasco, Washington: A Premier Destination for Commercial Real Estate

Introduction

Pasco, Washington is a burgeoning hub for commercial real estate (CRE) investors and developers. With a population of over 77,000, Pasco is part of the Tri-Cities area, which includes Kennewick and Richland. The city's economy is bolstered by a diverse mix of agriculture, logistics, and technology industries, making it a unique and attractive location for various CRE asset classes. Its strategic positioning within the Pacific Northwest enhances its value for commercial real estate pursuits.

Economic and Industry Overview

Pasco's economy is driven by a robust agricultural sector, logistics, and an emerging technology scene. The city is a center for agricultural processing and distribution, which fuels demand for industrial and warehouse spaces. Additionally, the proximity to the Hanford Site and the Pacific Northwest National Laboratory supports a growing technology and research sector, increasing the need for office and flex spaces.

The Tri-City Development Council (TRIDEC) plays a significant role in regional economic development, promoting initiatives that support CRE growth and investment in the area.

Strategic Location and Transportation Infrastructure

Pasco offers strategic logistical advantages with its access to major transportation infrastructure:

• Highways: Interstate 182 and U.S. Route 395 provide direct routes for freight and commuter traffic.
• Airports: The Tri-Cities Airport (PSC) is a regional hub with connections to major U.S. cities.
• Rail: Served by Burlington Northern Santa Fe Railway, facilitating efficient goods movement.
• Ports: The Port of Pasco offers cargo handling and distribution services.

These infrastructures support Pasco's role as a key distribution point in the Pacific Northwest, providing easy access to labor pools and proximity to coastal and border markets.

Commercial Real Estate Inventory & Zoning

Pasco's CRE landscape is divided into several submarkets:

• Central Business District (CBD): A mix of office and retail spaces catering to local businesses.
• Industrial Corridors: Located near the Port of Pasco and along major highways, ideal for logistics and warehousing.
• Innovation Districts: Emerging tech and research facilities, supported by proximity to the Hanford Site.

The city offers incentives for developers, such as Opportunity Zones and tax abatements. Detailed zoning information can be accessed through the City of Pasco's zoning maps.

Major Employers and Institutions

Pasco hosts several major employers and institutions that drive CRE demand:

• Lamb Weston: A leading food processing company.
• Pacific Northwest National Laboratory: A major research institution.
• Pasco School District: Significant employment contributor.

For more information, visit the Pasco Chamber of Commerce.

Notable Commercial Developments & Projects

Pasco is witnessing several large-scale developments:

• Columbia East Business Park: A mixed-use development providing office, retail, and industrial spaces.
• Opportunity Zones: Several areas in Pasco are designated as Opportunity Zones, offering tax incentives for new developments.

More details can be found through the City of Pasco Planning Department.

Building Permits, Planning, and Development Tools

For developers interested in Pasco, the following resources are essential:

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

Market Data & Economic Reports

Public data sets and reports are available for those analyzing Pasco's CRE market:

• U.S. Census Bureau
• City of Pasco Open Data Portal
• TRIDEC Economic Impact Reports

Explore Brevitas-powered dashboards for Pasco using our Brevitas City Search.

Why Use Brevitas for Pasco, Washington CRE?

Brevitas offers AI-driven CRE discovery tailored to Pasco's market, featuring:

• Auto-generated Listing Pages: Streamlined property presentations.
• Email and Landing Page Tools: Enhance marketing efforts.
• Integration with Brokers and Developers: Seamless collaboration.
• Exclusive Listings and Premium Exposure: Access to unique opportunities.

Utilize Brevitas for real-time market alerts and smart property pages to stay ahead in Pasco's CRE landscape.