While building activity in Redmond has not approached the high-water mark of 2005, it rebounded slightly in 2010, mostly on the strength of improvements to existing properties. Recent years have shown continued growth largely in residential due to increased housing demand.
According to Compass Commercial, industrial occupancy rates (net absorption) have been trending upward for the past several years. Redmond's industrial vacancy rate hovered between 25% and 30% for buildings over 3,000 SF, for most of the recession. However, recent demand has decreased this rate to below 10%. Several buildings are scheduled to be completed with build out for flex space in 2017, increasing the available inventory which includes; heavy industrial parks and high-tech business campuses, small flex-space commercial/light industrial complexes and stand-alone manufacturing buildings.
| BUILDING ACTIVITY IN REDMOND | ||||
| Year | Residential | New Commercial | Tenant Improvements | Total Valuation ($) |
| 2008 | 141 | 34 | 54 | $63,000,687 |
| 2009 | 63 | 34 | 54 | $24,661,610 |
| 2010 | 52 | 18 | 75 | $72,399,863 |
| 2011 | 32 | 14 | 56 | $14,471,470 |
| 2012 | 90 | 13 | 56 | $25,873,791 |
| 2013 | 100 | 8 | 70 | $33,444,344 |
| 2014 | 148 | 7 | 91 | $49,916,914 |
| 2015 | 195 | 15 | 117 | $61,612,148 |
| 2016 | 284 | 25 | 124 | $103,164,271 |
| 2017 | 288 | 41 | 63 | $98,223,995 |
| 2018 | 476 | 55 | 45 | $132,945,938 |
| 2019 | 369 | 26 | 52 | $181,135,334 |
Source: City of Redmond Building Statistics (Dec 2019)
