University Place, Washington: A Premier Destination for Commercial Real Estate

Introduction

University Place, Washington, is a rising star in the Pacific Northwest's commercial real estate (CRE) landscape. Nestled within Pierce County, this city boasts a robust economy driven by diverse industries, including healthcare, retail, and education. Its strategic location near Tacoma and the Greater Seattle area makes it an attractive hub for businesses looking to capitalize on regional growth. With a population of over 33,000 and a strong focus on economic development, University Place offers unique opportunities for CRE investment and development.

Economic and Industry Overview

University Place's economy is anchored by several key industries:

• Healthcare: The presence of major healthcare facilities drives demand for office spaces and medical buildings.
• Retail: A thriving retail sector supports a variety of shopping centers and standalone retail properties.
• Education: Educational institutions contribute to the need for office and research spaces.

The Economic Development Board for Tacoma-Pierce County actively supports initiatives to attract and retain businesses, fostering a favorable environment for CRE growth.

Strategic Location and Transportation Infrastructure

University Place benefits from excellent transportation infrastructure:

• Highways: Easy access to Interstate 5 and State Route 16 facilitates efficient transportation of goods and services.
• Ports: Proximity to the Port of Tacoma offers significant logistical advantages for distribution and trade.
• Airports: The Seattle-Tacoma International Airport is within a short drive, providing connectivity to global markets.

For more information, visit the Washington State Department of Transportation.

Commercial Real Estate Inventory & Zoning

The city's CRE landscape is diverse:

• Submarkets: Key areas include the Central Business District and various industrial corridors.
• Asset Classes: University Place offers industrial, retail, office, and medical properties.
• Zoning: The city provides incentives for sustainable development and mixed-use projects.

Explore the University Place Zoning Maps for detailed zoning information.

Major Employers and Institutions

University Place is home to several major employers and institutions:

• Top Employers: Include healthcare providers and educational institutions.
• Universities: Nearby University of Washington Tacoma contributes to local economic activity.

For a comprehensive list, check the City Business Directory.

Notable Commercial Developments & Projects

Several significant projects are shaping the city's future:

• Mixed-Use Developments: New projects are integrating residential, retail, and office spaces.
• Opportunity Zones: Incentives are available for investment in designated areas.

Visit the Planning Department for current projects and plans.

Building Permits, Planning, and Development Tools

Access essential resources for development in University Place:

• Building and Safety Department
• Permitting Portal
• Parcel Map Viewer
• Planning Commission
• Development Code

Market Data & Economic Reports

Stay informed with public data:

• U.S. Census Bureau
• City's Open Data Portal
• Economic impact reports are available for deeper insights.

Brevitas leverages AI-powered aggregation from public data and internal insights. Explore Brevitas-powered dashboards for University Place.

Why Use Brevitas for University Place, Washington CRE?

Brevitas offers a suite of AI-driven tools for CRE professionals:

• AI-Driven Discovery: Efficiently find properties that match your criteria.
• Real-Time Market Alerts: Stay updated with the latest offerings.
• Smart Property Pages: Access comprehensive property details.
• Dealroom Collaboration: Facilitate seamless transactions.

Unique features include:

• Auto-generated listing pages
• Email and landing page tools
• Integration with brokers and developers
• Exclusive listings and premium exposure

Explore the robust capabilities of Brevitas for your commercial real estate needs in University Place, Washington.