Sep 29, 2022
NAIOP's annual Night of the Stars gala comes on Nov. 4, at the Hyatt Regency Bellevue. Voting continues through Oct. 5, and a few names are popping early. John Pietromonaco of Pietromonaco Jackson Properties will be inducted into the Hall of Fame. The 80-unit Chief Seattle Club addition in Pioneer Square has been named Community Impact Development of the Year. The 66-unit Ellie Passivhaus in Lower Queen Anne has been named Sustainable Development of the Year. And the Office Brokers of the Year are David Rothrock and Doug Barrett of Meriwether Advisors.
With its main office in Austin, Texas, StoryBuilt has been active in our market since 2015. It counts many townhouse projects among its local developments. And it has a Columbia City apartment project, the 364-unit Josephine, that's nearing a master use permit. With another half dozen smaller projects also in varying phases of development, the firm's local headcount has risen to 31 employees. And they have a new home in the Original Rainier Brewery complex. Ben Rutkowski leads the local office, and said in a statement, “We're thrilled to move into our new office space in Georgetown, a neighborhood that we know and love. We are betting big on Seattle, and the new office provides us the space we need to collaborate and continue to grow the team.”
A 20-year veteran at the company, Coldwell Banker Bain's Robert Burns has been appointed president, the firm recently announced. He's held multiple titles with the brokerage over the years, and has most recently served as regional vice president of the greater Chicago area. He started selling real estate in Minnesota, at the age of 20. CBB didn't say if he'd be based in its Bellevue headquarter or not. Greg Macres is the executive vice president for the Western Region; he praised Burns' “passion for agent growth, strong business ethic and vast cross functional expertise.”
Kidder Mathews recently announced that its industrial specialist Matt McLennan has been awarded the Society of Industrial and Office Realtors designation (aka SIOR). Based in KM's Tacoma office, McLennan has previously been certified as a Certified Commercial Investment Member (CCIM), a member of the Washington State Commercial Association of Realtors (WSCAR), a member of the Commercial Brokers Association (CBA), and a member of the National Association of Realtors. Since joining the firm in 2017, he's helped with sales and deals totaling around 2.5 million square feet, with a value of some $250 million.
A group of five new valuation experts has joined JLL, the firm recently announced. Aaron DeCollibus makes the move from Walker & Dunlop. Keith Lee comes from PGP Valuation. Andrew Chapman and Derek Mason depart from Colliers. And Jimmy Ryerson hails from Integra Realty Resources. Tony Lenamon leads the JLL valuation practice. He said in a statement, “While we already had a small-team based in Seattle, this expansion allows us to meet the needs of clients across additional property types and continue to offer best-in-class service through a combination of leading technology and experienced appraisers.”
American Capital Group completed the 239-unit Kinect @ Lynnwood last December. A sister company began building the project about two years ago; it replaced a former Hertz property near the future Lynnwood City Center Station. The apartments now benefit from a $61.3 million refinancing package secured by Dave Karson, Chris Moyer, Alex Lapidus and Chris Meloni of Cushman & Wakefield and Michael Zampetti of Greystone, the two firms announced. The Fannie Mae loan carries a 10-year, fixed-rate term, with full-term interest only. Moyer said in a statement, “Leasing activity remains robust with low vacancy rates throughout the entire Puget Sound region.” ACG's partner in the project, and others, is Canyon Partners Real Estate.
Sep 22, 2022
Local shop Weidner Apartment Homes has acquired the 396-unit Cityplace Heights in Dallas, according to the The Dallas Morning News and other sources. Terms were not announced, though a $75 million loan from Morgan Stanley was reported. Seller Sentinel Real Estate, of New York, acquired the five-story building in 2015. The deal brings Weidner's portfolio to over 58,000 units, with over 280 properties spanning a region from Alaska to Wisconsin.
Barnes & Noble announced in May that it would depart its longtime home in downtown Bellevue, the former Belle Lanes bowling alley on 106th Avenue Northeast, for Crossroads . That new location will open on Wednesday, the bookseller recently announced. CEO James Daunt said in a statement, “Over the past few years, we have seen a renaissance amongst physical booksellers with growing book sales and very successful new bookstore openings. We are delighted to be able to invest in this beautiful new bookstore here in Bellevue.” Barnes & Noble also opened a new store last year at the Village at Totem Lake . The Pacific Place store closed early in the pandemic; that space is still vacant. Onni Group is planning a major redevelopment back on 106th, but hasn't announced a start date.
Timberlane Partners , which is based here in Seattle, is also active in Salt Lake City. There, the firm recently announced, it has broken ground on the five-story, 262-unit Back 9 development. Completion is projected for 2024. The project is a little south of downtown, in the West Valley area. Timberlane's John Chaffetz said in a statement, “We're thrilled to be planting a flag here with this development that is sure to add excitement to downtown West Valley.” Timberlane's partner in the project is Rich Day Group . Beecher Walker Architects designed the project, which Jacobsen Construction will build.