Jun 17, 2021

CBRE

Kinzer

Some brokers began leaving Kinzer Partners last year, as the pandemic reached its peak and brokerage activities ground to a near halt. Now the firm namesake and widely respected industry veteran Craig Kinzer will leave the company he founded in 1992, though with a 12-month transition, which will continue to fly the Kinzer flag with a staff of about nine. To repeat: That firm isn't going away. Kinzer himself will now move to CBRE, and the latter's John R. Miller said in a statement, “Few brokers in our industry today have had a greater impact on Seattle's skyline than Craig. For decades, he's helped organizations understand how real estate can help achieve their greater business objectives.” Kinzer will join the advisory and transaction services team. He said in a statement, “More than ever before, cutting-edge research and workplace strategy are critical to clients today, and CBRE's platform is the best in the industry. I'm thrilled to join an international company of CBRE's stature.” Kinzer Partners recently moved from the Butcher's Table building, soon to have a new high rise built over it, to Skanska's 2+U.

Shoemaker joins M&M

Marcus & Millichap recently announced four national hires. One addition is to the Seattle office: Drit Shoemaker, who makes the move from Trident Real Estate Ventures, which he founded. His new role will be as senior director in M&M's capital markets financing arm. Evan Denner, Marcus & Millichap Capital Corporation (MMCC), said in a statement regarding the entire quartet, “Bringing select, senior-level origination professionals to our growing roster of capital markets professionals is an essential component of MMCC's continuing evolution. The momentum created by our long-term strategic growth plan has enhanced our ability to attract accomplished capital markets professionals.” The firm says that, in the first quarter of this year, it closed 487 transactions valued at $1.6 billion in 42 states, with 178 capital sources.

JLL

Lerum

Andrea Lerum has joined JLL, the firm recently announced. She makes the move from West Coast Commercial Realty. JLL says she'll work exclusively with “a Seattle-based Fortune 500 tech company,” which wasn't named. JLL's Joe Smurdon said in a statement, “Andrea's strong background in property management and retail leasing will really make a tremendous impact on our clients, and we are thrilled to have her join our team.” She added, “In a rapidly evolving retail environment with no shortage of opportunities, Seattle is uniquely poised for a tremendous post-pandemic comeback, and I look forward to getting started.”

Rise makes $28M buy near Portland

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Rise Properties Trust, a Canadian multifamily REIT with a Seattle office, has announced a recent 108-unit multifamily acquisition in Portland. Rise paid $28.2 million for the Preserve at Sunnyside Apartments, which are about 12 miles southeast of Portland, in the Happy Valley area east of Interstate 205. The complex is also about a five-minute drive to the Max Green Line stop at Clackamas Town Center. Rise says the garden apartments date to 1991. Renovations are planned. The purchase now gives Rise about 5,000 units in the Pacific Northwest; related arm Thrive Communities will manage the apartments. Beau Madsen said in a statement, “Rise is thrilled to continue our investment in the dynamic Portland metro area, particularly in desirable suburban submarkets that feature attractive multifamily fundamentals.”

URG lands new restaurant tenant

Mina

Like many downtown eateries, RN74 closed at some point during the pandemic. The corner restaurant, at 1433 Fourth Ave. in the Joshua Green Building, will soon have a new tenant in the form of Bourbon Steak, the seventh location for that brand. Urban Renaissance Group, which is majority owned by Joshua Green Corp., recently announced the news. The restaurant will open this fall after some renovations, with the contractor and architect still TBD. The restaurant will be the latest creation of chef and restaurateur Michael Mina, who said in a statement, “Bourbon Steak is such a meaningful concept to me and the Mina Group family. I was raised outside of Seattle, and am firmly invested in the next iteration of the downtown area. I wanted to bring an experience that is as close to home for me as Seattle is!” Mina was born in Cairo, then immigrated with his family to Ellensburg. He later found success with his eponymous Michael Mina restaurant in San Francisco. There are now about 45 restaurants worldwide under the aegis of Mina Group, which he founded in 2002 with tennis great Andre Agassi. The Bourbon Steak menu “will focus on seasonal, regional ingredients and all-natural, organic and hormone free cuts of beef tempered in herb infused butter and wood grilled to order.” Seafood is also promised.