Jun 21, 2018
NAIOP is offering a breakfast and a tour of Prologis' big new Georgetown Crossroads at 7 a.m. July 11 at Georgetown Ballroom, 5623 Airport Way S. Leave your car there; a bus will take everyone to the site and back. Speakers are Richard Kolpa from Prologis, Thad Mallory from Kidder Mathews and Matthew Bean from Terreno Realty. Georgetown Crossroads will be the nation's first three-story logistics center when it opens late this year or early in 2019. Details and registration at: naiopwa.org.
Wanna be first in line to see new projects in the International District? The city is seeking a new member for the International Special Review District Board, which approves projects in that historic neighborhood. Position No. 1 is for a business owner, property owner or employee in the ID. Letters of interest and resume are due by June 29 to email@example.com.
KBS Realty Advisors of Newport Beach, California leased 11,995 square feet to Northwest Event Technology at The Park at Woodinville. Terms and brokers were not announced. The office/industrial park is at 14103 N.E. 200th St. It has five buildings with 239,607 square feet. Northwest Event Technology designs and produces audio, video, lighting and scenic elements for conferences, trade shows and corporate events.
Building Owners and Managers Association's local chapter named The Sophia Way its 2018-2020 community outreach partner. BOMA member firms will provide financial assistance, facility needs, supplies and equipment. The Sophia Way serves homeless women. It's planning a 100-bed shelter on Holy Spirit Lutheran Church's property in Kirkland that will be the first of its kind on the Eastside.
Jun 14, 2018
Developer Paul Sandhu of Tacoma South Hospitality has opened Holiday Inn Tacoma Mall at 8402 S. Hosmer St. The 124-room hotel has a business lobby, indoor pool, fitness center and flexible meeting space. It was designed by Kaul Design Architecture and built by ZSA Inc. InterContinental Hotels Group, whose brands include Holiday Inn, Kimpton, Hotel Indigo, EVEN Hotels, Staybridge and Crowne Plaza, operates the hotel.
NAIOP will host a tour of Pike Place Market at 11 a.m. Thursday, July 19. Greg Smith of Urban Visions will be on hand, and stops are likely to include his new West Edge apartment tower, and the State Hotel (now under construction by Lake Union Partners). NAIOP also is hosting a wine fundraiser for its PAC at 4:30 p.m. Thursday, June 28 at Douglas Howe's private Sky Cellar events space near the market. Details and registration for both events: naiopwa.org.
Security Properties and partner Admiral Capital Group announced their purchase of the 240-unit Hamptons at Woodland Pointe in Nashville. Terms were not announced. ARA Newmark was the broker. The buyers describe the 17-year-old property as a value-add investment, and many upgrades are planned. They have invested together before. New York-based Admiral is making its first investment in Nashville. The private equity firm has 12,032 units under management, and about $1.4 billion in its real estate portfolio. Security Properties now has five multifamily properties with 795 units in Nashville.
Colliers' Tony Ford represented Arup in leasing 25,000 square feet at Second & Seneca (formerly known as Safeco Center), at 1191 Second Ave. Terms were not announced. Arup is moving from 8,500 square feet at Millennium Tower. Arup's Joshua Yacknowitz said in a statement, “Our office has doubled in size in the last three years, and we look forward to continued growth.” Second & Seneca comprises two buildings and Arup is moving into the north tower. Leasing for the owner, Rockwood Capital, is done by J.J. Shephard and Joe Gowan of JLL.
Columbia Pacific Advisors originated a $25 million bridge loan for Kentucky-based Blue Tide Partners, which is using the funds to acquire a nine-property, 435-unit value-add multifamily portfolio in Cincinnati. Some of the funds will refinance existing debt on nine similar properties purchased earlier. Cincinnati, like other cities, has a shortage of affordable units. Blue Tide intends to acquire 2,500 units for that market.
Tarragon has promoted Bea Magno to development accountant. She has worked for the firm for two years.