Jul 09, 2020
Kidder Mathews has completed several leadership changes first announced earlier this year. Jeff Lyon has stepped down as CEO to become chairman, and Bill Frame has stepped up to become CEO. Brian Hatcher is now president and COO. Under Lyon's leadership, KM has grown from four offices in Washington to 22 offices in five states with 900 people. California has been a particular target for recent growth. Last year KM did about $9.6 billion in deals. It manages about 70 million square feet. It's the largest independently owned commercial real estate firm on the West Coast.
Oakpointe Communities, which is gradually developing the large Ten Trails residential subdivision in Black Diamond, announced the recent hiring of Sharon Snook as assistant project manager and Jack Sparks as project engineer. When completed circa 2030, the phased development could have around 6,000 homes on 2,200 acres, along with 1 million square feet of commercial space.
The nearly completed Emerald condominium tower, developed by Daniels Create World Seattle, still has units left to sell. As part of the lure, Columbia Hospitality will manage and operate the 40-story, 262-unit building. Polaris Pacific is the sales agent, and its Josh Nasvik said in a statement, “We are delighted to partner with such a respected hospitality brand and look forward to their efforts in creating an effortless five-star living experience.” Amid fears about the ongoing pandemic, the operator's new Columbia Clean initiative — also to be employed at its other properties — includes measures like cleaning with electrostatic sprayers and ultraviolet light, plus low- and no-touch controls. The sales site is theemeraldseattle.com.
Those seeking legal counsel for their deals, leases and contracts will have a new player to call: Seyfarth has expanded to the Puget Sound region with its 17th office, at DocuSign Tower downtown (formerly Wells Fargo Center). Partner Denice Tokunaga will lead its real estate team, which also includes Jami Balint. The office will have 13 attorneys, plus support staff. Seattle resident Tokunaga was previously a partner at Summit Law Group.
Bellevue-based Symetra Life Insurance Co. is partnering with the Nassau Re/Imagine insurance technology incubator in Hartford, Connecticut, to tap opportunities in that region's insurance industry talent pipeline. Nassau Re/Imagine supports 19 startups focused on solving critical problems for the life, annuity, reinsurance, and property and casualty sectors. As part of the deal, Harry Monti, executive vice president of Symetra's Benefits Division, is joining the Nassau Re/Imagine advisory board. Symetra provides employee benefits, annuities and life insurance.
In Medford, Oregon, People's Bank of Commerce promoted Lindsey Trautman from controller to CFO and Julia Beattie from chief lending officer to president. Trautman joined People's Bank in 2005 and has been a credit analyst, accounting specialist and accountant. Beattie began her banking career in 1991 at Union National Bank of Texas. She moved to Oregon a year later and worked at Western Bank in Medford until 2000. She later worked at South Valley Bank & Trust in Klamath Falls until joining People's Bank in 2013. Trautman replaced Russ Milburn, who retired after serving as CFO since 2007. Beattie takes over for People's Bank co-founder Ken Trautman, who remains as CEO.
iHeartMedia launched a new standalone business unit called BIN: Black Information Network. BIN is a national and local news audio service focusing on the Black community while informing those outside the community to help foster communication, accountability and a deeper understanding. Instead of traditional ad-supported media, BIN is supported by founding partners Bank of America, CVS Health, Geico, Lowe's, McDonald's USA, Sony, 23andMe and Verizon. Its markets include Seattle and other cities across the country. Tony Coles, a 35-year radio veteran and iHeartMedia division president, was named president of BIN. Coles was program director at KRWM/KLSY in Seattle from 1999 to 2003.
The Cloud Security Alliance and the International Systems Security Association said they will collaborate on a variety of initiatives to support and strengthen the cybersecurity profession. The two organizations will share education content, research findings, participation in the SECtember conference scheduled for Sept. 14-18 in Seattle, and other initiatives. Ferndale-based CSA defines standards, certifications and best practices to help ensure a secure cloud computing environment. ISSA is a nonprofit for the cyber professional community that supports career growth.
In 2021, Seattle-based Amazon will open an 825,000-square-foot fulfillment center in Little Rock, Arkansas, that will create over 1,000 full-time jobs. Those employees will work alongside robots to pick, pack and ship small items such as books, electronics and toys. Later this year, Amazon plans to open an 85,000-square-foot delivery station in Little Rock where packages from fulfillment centers will be loaded into vehicles for “last mile” delivery.
Seattle-based Expedia Group is selling $500 million of unsecured 3.6% senior notes due in 2023 and $750 million of unsecured 4.63% senior notes due in 2027 in a private offering. Expedia expects to use the proceeds to redeem outstanding shares of its 9.5% Series A preferred stock after May 5, 2021, when the redemption premium is scheduled to decrease. It could also use all or part of the proceeds for general corporate purposes. The private offering is expected to close on Tuesday.