Feb 15, 2018
Cushman & Wakefield said it has obtained a $265 million construction loan for Seco Development's Southport project in Renton. C&W's New York office obtained the loan from Apollo Commercial Real Estate Finance, Inc. C&W also arranged a $105 million refinancing of Seco's adjacent and now open Hyatt Regency Lake Washington with Starwood Property Trust and Argentic Capital Management, and recapitalized the adjacent Bristol apartment complex — which Seco completed in 2008 — with Terra Capital Partners and private investors. The 17-acre Southport development will have over 700,000 square feet of office space, along with retail, restaurants and a parking garage. Total project size is about 2.4 million square feet, with completion expected next year.
Holliday Fenoglio Fowler said it has secured an $82 million refinancing loan for Urban Visions' 200 Occidental in Pioneer Square. The new headquarters for Weyerhaeuser was completed in 2016. The LEED platinum building was designed by Mithun and built by JTM Construction. HFF's Bruce Ganong, Gerry Rohm and Brandon Roth secured the 15-year fixed-rate loan through Allianz Real Estate of America. The loan replaces a prior construction loan also arranged by HFF.
CREW meets March 5 in Tacoma, and the luncheon topic will be the 97-acre, $1.2 billion mixed-use redevelopment of Point Ruston. Michael Foley of Point Ruston LLC and MC Construction will be the speaker. The project on the old Asarco copper smelting property includes a 180-room Silver Cloud hotel, restaurants and retail, a Cinemark movie theater, and over 350 apartments and condos. The event starts at 11:30 a.m. at the Hotel Murano, 1320 Broadway Plaza. Details and registration at: crewnetwork.org.
Seattle Business magazine gave Kidder Mathews Chairman and CEO Jeff Lyon an Executive Excellence Award. KM said in a statement that Lyon merged his Lyon Commercial with KM in 1991, and it has grown from four offices and 150 people to 21 offices in five states with over 700 employees. KM is now the largest independent commercial real estate firm on the West Coast.
Land Advisors Organization-Washington promoted Morgan Swanson to a full-time broker specializing in urban redevelopment. She joined the firm in 2014 after a stint with Gallo Wine Co. LAO is based in Scottsdale and says it is the largest land brokerage company in the nation, with a regional office in Bellevue. Nationwide, it has 22 offices with 65 brokers. LAO has capital investment, resorts and property tax divisions.
NorthMarq Capital said it has secured $21.85 refinancing loan for SeaLevel Properties' SAMM Apartments in Sammamish. The 92-unit building opened last summer. Group Architect was the designer, and Venture was the general contractor. NorthMarq's Stuart Oswald arranged the take-out loan, which has a 15-year term on a 30-year amortization schedule, with one year interest only.
Feb 08, 2018
Seattle has seen most of its bowling alleys close, but Lynnwood celebrated the opening of Bowlero last weekend at 1222 164th St. S.W.
The 40-lane facilty has high-definition video walls, free Wi-Fi, lounge seating and a bar with fireplaces.
The alley previously operated as Brunswick Majestic Lanes, which opened in 1990.
The Everett Herald reports that the facilty received a $2.4 million renovation.
There are over 47 Bowlero locations in California, Texas, Florida, New York and other states.
Bowlero was launched in 2014 and is owned by the former Bowlmor AMF, the largest owner and operator of bowling centers in the world, with over 300 locations. That company was formed by the 2013 merger of Bowlmor Lanes and AMF Bowling Worldwide.
Earlier this year, the company adopted the new name Bowlero Corp. It describes the lanes as “whimsical, modern interpretations of traditional bowling alleys, featuring retro-inspired, upscale amenities, inventive food and beverage offerings, and interactive arcades and amusements.”
Coldwell Banker Bain owner Bill Riss has been added to this year's Swanepoel Power 200, a list of powerful people in residential real estate. Riss said in a statement, “It's always an honor, and one I don't take for granted, to be recognized as one of the many leaders in our industry.” CBB has 30 offices and posts more than $6 billion in annual sales, according to the company.
MainStreet Property Group has broken ground on another project in downtown Bothell: 58 townhouses at The Landing. The company is also building 130 apartments at The Junction, a six-story complex that should be completed this summer. Retail tenants include PinkaBella CupCakes and First Financial Northwest Bank, Prime Steakhouse and Poquitos Mexican Restaurant. The Landing's townhouses will be sold, but prices have not been set. They range from two- to four-bedrooms. The first units are scheduled for completion this summer. Dahlin Group is the architect, and sister company GenCap Construction is the general contractor for the 12 three-story buildings. MainStreet's Kelly Price said the project “shows our diverse capabilities as a developer, which now includes for-sale homes.”