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People & Companies

Mar 07, 2024

Totem Lake confidential!

Perhaps because of its freeway-side location, The Village at Totem Lake doesn't quite get the same appreciation as Bellevue Square or University Village. But NAIOP Washington State wants you to celebrate the 26-acre mixed-use development via a tour scheduled for April 4. It's worth remembering that, when CenterCal Properties began planning a complete makeover of the old Totem Lake Mall (circa 2015), the notion of adding many apartments over new retail was entirely unproven on the car-centric Eastside. Today, it looks like a very smart and successful bet. Stops on the tour will include some of the retail (including Barnes & Noble, Serious Pie, Whole Foods, Trader Joe's, Nordstrom Rack, the Cinemark cinemas, etc.) and the three apartment buildings with their 852 units. Representatives from CenterCal, Pacific Coast Capital, Trinsic Residential Group and Fairfield Residential should be on hand. Details and registration: naiopwa.org.

Marcus & Millichap

Jackson

Marcus & Millichap recently announced the hiring of Tiana Jackson, who'll become a director of capital markets. She makes the move from Luther Burbank Savings, where she specialized in real estate lending. In her new post, she'll be working with Ray Allen and John Manning. The latter said in a statement, “She is widely recognized for her strong relationships with a variety of lenders and creative financing solutions, which will help ensure our clients are always getting the most competitive terms available in the market. She will be tremendous addition to the team.”

Yes, even more pickleball

Casey and John Hylton

The sport was invented locally, on Bainbridge Island in 1965, but it wasn't until the pandemic that pickleball really took off. There are currently about a half dozen pickleball plans and proposals in the greater Seattle-Bellevue area. Adding to the pickle pile-up is Pickleball Kingdom, founded in Arizona by Ace Rodrigues. The company has been adding locations on a franchise basis, and recently announced plans to expand in our state via a partnership with local entrepreneurs John Hylton and Casey Hylton. Two new clubs are planned, but locations aren't specified — meaning two possible lease deals are in the works, with new construction to follow. John Hylton said in a statement, “The dedicated indoor clubs we will build will be a true gathering space for our communities to play, to have fun and to compete! We want Washington to be on the forefront of pickleball! After all, the sport was born here.” Pickleball Kingdom now has about 13 locations ranging from Texas to Georgia to New Jersey.

Feb 29, 2024

Travis Hale gets top spot

Hale

Panattoni Development's Travis Hale was recently named President of the Year by NAIOP. The honor was bestowed earlier this month at a NAIOP gathering in Washington, D.C. Hale leads our state chapter of NAIOP and has, since the beginning of his tenure, grown its membership to over 1,130 people. He also launched a University of Washington scholarship program for its commercial real estate certification program. The organization said in a press release, “NAIOP Washington State congratulates Travis Hale on this achievement and extends its deepest appreciation for his leadership of the association.”

Kidder Mathews

Chaney

Kidder Mathews announced that its veteran broker Jeff Chaney was recently awarded SIOR designation. (That's the Society of Industrial and Office Realtors.) Chaney has been with the firm since 1996, focusing mostly on the Eastside market. KM said of the credential, “The prestigious SIOR designation recognizes the most knowledgeable, experienced, and successful professionals in today's commercial real estate industry.” Some 44 brokers at KM also have SIOR status, the most in our region.

Amenity Wars!

That's the topic to be discussed at NAIOP Washington State's next monthly breakfast, to be held at 8 a.m. March 13 at the Four Seasons. The range of tenant perks and enticements, in both office and multifamily properties, is only growing broader, more posh and — some might say — frivolous. Addressing the amenity arms race will be Bernadette Kelly of Weber Thompson, Raymond Connell from Holland Partner Group, Megan Murphy of Vulcan Real Estate and Hudson Pacific Properties' Tony Toppenberg. Details and registration: naiopwa.org.

Kidder Mathews

Renshaw

Kidder Mathews announced the recent hiring of a new broker: Matthew Renshaw, who makes the move from CBRE. His new post will be senior vice president, with an emphasis on tenant advisory services. He said in a statement, “My clients require and demand the best service, and it's my job to deliver that. As the premier commercial real estate firm on the West Coast, Kidder Mathews is well-positioned to support me in delivering excellent results, both now and in the future.”

Gantry arranges over $6M refi deal



Gantry recently secured a $6.2 million refinancing package for Lake Union Center in Wallingford. The building is fully occupied by Lumen Bioscience. The lender was an unnamed life insurance company. The owner and borrower was Seattle Investment Partners, led by George Neffner, which developed the 65,000-square-foot building two dozen years ago. Gantry's Mike Wood and Colin Ceithaml led the recent funding effort. The 10-year loan features a fixed rate and 25-year amortization period. Said Wood, “While office remains the most challenging asset class to underwrite, as market forces and cycle shifts impact both occupancy and values, this asset checked all the boxes for a qualifying loan, including its lakefront location, Class A status, stable occupancy and conservative leverage.”

Kidder Mathews

Chelico

After many years at JSH Properties, retail leasing specialist John Chelico is joining Kidder Mathews, that firm recently announced. He'll be based in the Seattle office, with the new title of senior vice president. He said in a statement, “I'm very happy to be here, and look forward to sharing in the firm's ongoing success.”

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