Nov 02, 2023

Rockefeller Group

Harlow

Rockefeller Group is, of course, the owner of Rockefeller Center in New York City. As an investor, its presence has mainly been felt here via its TA Realty arm, which makes periodic deals. But now Rockefeller says it wants to be more active in our market, and it announced the recent hiring of J.P. Harlow as managing director for the West Coast. Already based in Seattle, he makes the move from LPC West. Rockefeller's James V. Camp said in a statement, “After an extensive search, we've found an ideal team member to lead our expansion north. Given J.P.'s proven track record establishing a strong regional presence in these markets, his relationships in both the Seattle and the San Francisco Bay area markets, and his success sourcing development deals, I'm confident Rockefeller Group will continue to grow its presence in the Western Region across all property types.” No new developments were mentioned, but new construction is certainly part of Harlow's past portfolio.

Lee brokers office deal in Fife

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Lee & Associates recently announced that its Harrison Laird and John Bauder have landed a new tenant for an office/warehouse owner down in Fife. The healthcare services company Epic Government (previously FSR) is taking 27,400 square feet to use as a call center. Lee says it's one of the larger office leases signed in Pierce County since the pandemic. Laird added, “Leasing activity, specifically office relocations, has ticked up as pre-pandemic leases and mid-pandemic extensions expire. Tenants continue to reevaluate space utilization, and seek high-quality, amenity-rich spaces to attract their employees back into the office.” Lee's client, the building owner, was D&S Family LLC. Epic's broker was Andrea Maks at Commercial Advantage.

Get ready for West Main

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In downtown Bellevue, Vulcan Real Estate's handsome three-tower West Main project sure looks finished when you pass by. Its 1.1 million square feet should officially open in the first quarter of next year, and Amazon committed to all the space three years ago, when the project was under construction. But that was well before the permanent effects of work-from-home were fully understood. Amazon said last year that it would occupy only one of the three towers, designed by Graphite Design Group and Compton Design Office, effectively putting the other two on the sublease market. Those are to be finished to their shell and core, meaning no turnkey ease of relocating potential tenants from other buildings. As to who's representing the space for Amazon, that's not clear. (JLL has the job over at Rainier Square.) Curious about what's inside West Main? You can tour the trio next Thurs., Nov. 9, courtesy of our local chapter of the Urban Land Institute, and you don't have to be a ULI member to attend. The tour begins at 4 p.m. Details and registration: northwest.uli.org.

Paragon does $4M in deals

Paragon Real Estate Advisors announced two recent sales worth $4 million. First, up on Queen Anne Hill, its Brian Platt, Ben Douglas, Michael Urquhart and Ryan Iles represented the longtime owner of the nine-unit Greenbrier, in a deal worth $2.6 million. Cannon Commercial's Chris Giles represented the buyer. Then, down in Burien, the eight-unit Hazel Maes sold for about $1.4 million. Paragon's Iles represented the seller, and Fekade Tessema at Newberry Realty represented the buyer.

M&M brokers Aberdeen self-storage sale

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Over in Aberdeen, Marcus & Millichap's Chris Secreto recently brokered both sides of a self-storage sale, the company announced. ABC Mini Storage sold for over $2.2 million. The facility has 20,714 and 172 units. It was developed in 1997.

Seattle Credit Union

Ribbon cutting at new Tacoma branch.

Seattle Credit Union has expanded to Tacoma's Hilltop Neighborhood. The new Hilltop branch at 824 Martin Luther King Jr Way opened on Oct. 16, and marks the credit union's second Tacoma location in just over a year. Seattle Credit Union, established in 1933, has a long-standing commitment to empower communities through providing equitable and affordable financial services. The 90-year-old organization today has 55,000 members with assets of more than $1 billion. Seattle Credit Union's newest location features a financial branch as well as a financial suite. At the Hilltop branch, members and consumers can engage with branch experts to learn about the various products and services the credit union offers. The Hilltop financial suite offers broader lending services, and business teams can meet with clients. The layout and interior design of the Hilltop branch is by JPC Architects, and construction by DP Incorporated. Richard Romero is the CEO of Seattle Credit Union.

Marchex

Seattle-based Marchex hired Holly Aglio as chief financial officer. Aglio will lead Marchex's finance and accounting organizations. Most recently, from 2021 to 2023 Aglio was chief financial officer and a member of the board of directors of NetCentrics, a technology business supporting national security, and led its 2021 acquisition by Cerberus Capital Management. Her experience at previous companies, including Govplace, Artel, and Apptis (acquired by URS), has focused on leading and growing financial operations in dynamic growth companies and industries. Aglio's career began in public accounting as an auditor for PricewaterhouseCoopers. Marchex is an AI-powered conversation intelligence company.

Nov 01, 2023

Cushing Terrell

Russell

Maehl

Multidisciplinary design firm Cushing Terrell announced the promotion of two team members to the role of associate principal: Carl Maehl, based in Missoula, Montana, and Alex Russell, based in Bozeman, Montana.

Maehl has been with Cushing Terrell for more than 20 years and serves as a co-director of the firm's electrical engineering group. As the leader of a service sector with more than 50 team members in 12 locations, Maehl is known for his ability to mentor and empower others, develop upcoming leaders, and manage people and projects with meticulous attention to detail and quality outcomes.

Russell has been with Cushing Terrell for 13 years and serves as director of the firm's energy services group. With experience in all facets of mechanical design, Russell brings together the firm's multidisciplinary expertise to deliver cutting-edge energy solutions that result in high-performing, healthy environments. With LEED BD+C, Green Globes, and Certified Energy Manager accreditations, he uses his expertise to design efficient, cost-effective mechanical systems for projects that range in size from a single building to an entire university campus.

RMC Architects

Sara Vernia has joined RMC Architects as a design professional. Vernia received a Master of Architecture from the University of Oregon in 2012 and a Bachelor of Science in Civil Engineering in 2003 from the University of Alaska Fairbanks. She believes her previous background in civil engineering enhances her work in architecture today by giving her a broader understanding of both the design and execution of projects.

Her current Bellingham projects include Chartwells Higher Ed renovations on the Western Washington University campus, Millworks Phase 2, and tenant improvements for Bellingham Technical College and Whatcom Community College. Vernia is also working on tenant improvements for Skagit Valley College in Mount Vernon.

Parametrix

Woody

Parametrix has hired Tony Woody as a senior consultant with the firm's Greater Washington Transportation Division.

Woody comes to Parametrix from Concord Engineering. He specializes in traffic operations and planning, transit analysis, traffic simulation and travel demand modeling, arterial and freeway corridor studies, concept design, and intelligent transportation system applications. His project experience includes work with the Seattle Department of Transportation, King County Metro, City of Bellevue, Port of Seattle, Sound Transit, and the Washington State Department of Transportation. At Parametrix, he joins the firm's Seattle Transportation Planning group, serving public agencies throughout the Puget Sound region.

Frazier Healthcare Partners

Frazier Healthcare Partners announced that Peter Tornatore has joined the Frazier Healthcare Growth Buyout Investor Relations team as a vice president. Tornatore joins the firm from Blackstone Life Sciences where he led investor relations and business development. Prior, he was a director in the client solutions group at Blackstone where he specialized in raising capital for Blackstone's private funds in the United States. Tornatore's initial focus at Frazier will be on business development and capital formation. Founded in 1991, Frazier Healthcare Partners is a private equity firm focused exclusively on the healthcare industry. Frazier is headquartered in Seattle, and invests broadly across the U.S., Canada, and Europe.

PBCO Financial Corporation

PBCO Financial Corporation, the holding company for Medford-based People's Bank of Commerce, announced that it has made the strategic business decision to exit the residential mortgage lending market, effective November 1st. “Industry trends and the current interest rate environment have made it challenging for this division to remain profitable in recent years,” commented Julia Beattie, president & CEO. PBCO anticipates one-time termination expenses of $350 thousand during the fourth quarter of 2023 associated with severance and contract termination fees.