Sep 04, 2014

Gaming company takes Redmond space

Photo courtesy of CBRE [enlarge]

West Willows Technology Center in Redmond

CBRE helped HighBrook Investment Management and Scanlan Kemper Bard Cos. land a videogame company at West Willows Technology Center in Redmond.

CBRE did not name the company but said it has been looking for space in downtown Bellevue but decided to take 25,000 square feet in Redmond.

PlayNetwork, a customer service company that has been there since 1999, renewed its lease.

The complex is now 87 percent leased. Renovation is under way including work on HVAC, infrastructure, landscaping, exteriors and new outdoor collaboration areas.

RE/MAX opens Bellevue office

Hu

A new RE/MAX franchise is opening at 15015 Main St. in Bellevue. RE/MAX Pacific Realty will have three associates initially and add three more soon. Former software developer Shelly Hu, a broker who specializes in luxury homes and foreign buyers, owns the office. Hu has a partnership with a Chinese real estate advertising site called Fang.com. The office will serve Bellevue, Seattle, Kirkland, Medina, Redmond and Yarrow Point.

Wesley Homes celebrates 70th years

Wesley Homes Retirement Communities and Home Health Services will celebrate its 70th anniversary at an open house Sunday in Des Moines. The company was originally a blueberry farm called Wesley Gardens. It later became Wesley Homes, and now has locations in Des Moines and Auburn, and a home care service. Later this month Wesley Homes will start construction on a new rehabilitation center on its Auburn campus. It has land in Puyallup and Renton where it could build more facilities. Wesley Homes is affiliated with the Pacific Northwest Annual Conference of the United Methodist Church.

Kennedy Wilson buys Tabula Rasa

Kennedy Wilson bought Tabula Rasa, a 118-unit apartment building in Tumwater, for $20.8 million. Kennedy Wilson invested $8 million in equity and got a seven-year, $13.5 million loan from Freddie Mac. Kennedy Wilson has spent $266 million on six apartment complexes in this region, totaling 1,905 units. Kennedy Wilson's multifamily portfolio is 19,500 units, with about 5,000 in the Pacific Northwest.

Pelluer, Hutchins join new Colliers group

Pelluer

Hutchins

Colliers International hired Kim Hutchins and Steve Pelluer as part of a plan to start a nonprofit, religious and educational advisory group. Hutchins and Pelluer ran their own brokerage called Church Property Advisors, which specialized in advising churches, private schools and nonprofit organizations on real estate matters. In their 12 years together, Hutchins and Pelluer have amassed a client list that includes Mars Hill Church, The City Church, Grace Seattle Church, Bear Creek School and Children's Institute for Learning Differences.

Aug 28, 2014

NBS gets financing for Tumwater office building

Photo courtesy of NBS Financial Services [enlarge]

Town Center East III was built in 2006.

Jeff Henderson and Zack Goodwin of NBS Financial Services arranged $26.7 million in permanent financing for Town Center East III, a five-story 157,625-square-foot building in Tumwater.

NBS Financial represented both the lender and borrower.

The structure was built in 2006 as part of a campus for the state of Washington.

NBS Financial is the financing arm of NAI Norris, Beggs & Simpson, a commercial real estate company in Portland.

Tour Bainbridge with ULI Sept. 11

Urban Land Institute Northwest will hold a walking tour of Bainbridge Island Sept. 11 looking at the arts community, public amenities, sustainable development and future growth. The tour starts with networking at Bainbridge Museum of Art, followed by stops at Grow Community and Ericksen Cottages. Participants should take the 2:05 p.m. ferry to Bainbridge so they can register by 3 p.m. For more information, contact ULI at Northwest@uli.org or by phone at (206) 224-4500.

GMA conference Nov. 3-4

Law Seminars International will hold a two-day conference on the state's Growth Management Act and its effects on real estate Nov. 3 and 4 at Renaissance Seattle Hotel. The conference will cover the challenges and opportunities posed by changing federal and state regulations. Topics also include marijuana, the Oso mudslide, small-lot development and micro-housing. For more information and to register, visit: bit.ly/1vOKCVZ.