Aug 11, 2016

Davis Property & Investment

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Center Plaza 3 building in DuPont

Davis Property & Investment, LLC has sold its Center Plaza 3 building in DuPont, south of Tacoma, to Western Washington Sheet Metal for $5 million. Davis developed the property in 2009, purpose-built for the buyer. The 31,000 square-foot building is one of six at Davis' 180,000 square-foot Center Plaza, which counts Ikea, Amazon, FedEx, Dania and Pier 1 among its tenants. No brokers were involved in the deal.

UW Runstad Center

Stevenson

The University of Washington's Runstad Center for Real Estate Studies named a new director. Replacing interim director Peter Orser will be Simon Stevenson, who comes from the UK's University of Reading. He teaches real estate and finance, with a research focus on public real estate markets, REITs, housing economics and finance. He has a doctorate from University College Dublin. He begins his transition to the UW in September and will assume full-time duties in January.

CREW anniversary Sept. 23

CREW has set the date for its 30th anniversary party: Friday, Sept. 23 at Coterie Worklounge (1414 Fourth Ave.) The theme, appropriately, is to be 80s, meaning a return to the large shoulder pads, high hair and power suits one today associates with the movie “Working Girl.” Attendees can RSVP at crewseattle.org. CREW's slogan for the night is “Party like it's 1986,” a year when Whitney Houston, Prince, Janet Jackson and Cyndi Lauper were topping the charts. Expect the DJ to spin plenty of Duran Duran, too.

Aug 04, 2016

Holliday Fenoglio Fowler

Photo courtesy HFF [enlarge]

Broker Holliday Fenoglio Fowler handled the sale of two Albertsons grocery stores in Renton and Milton for a combined total of $13.6 million. Both stores are leased through 2035 to the national grocery chain, which merged with Safeway last year. The seller, HH Property North, LLC, was represented by HFF brokers Nick Foster, Mark West and Nick Kassab. The buyer, CE Enterprise Partners, LLC, was represented by Bob Tuller of Cushman & Wakefield San Francisco.

Pryde + Johnson

Photo courtesy JLL [enlarge]

The Soren has 111 units, retail and underground parking.

Through an LLC, developer Pryde + Johnson has sold the 111-unit Soren apartments in Ballard for $45 million. Completed in 2014, the six-story Soren also has 4,500 square feet of retail space and underground parking. Jones Lang LaSalle and Candoo Associates brokered the deal to buyer Soren Apartments LLC, which is associated with Pillar Communities of Scottsdale, Arizona. JLL says the Soren is now 96 percent leased. Pryde + Johnson now is building the 106-unit Keelson in Ballard, expected to open this fall.

Newmark Grubb Knight Frank

Ottele

Broker NGKF has announced three new hires: Jesse Ottele, Cavan O'Keefe and Brody O'Keefe. All three were at CBRE and have deep roots in the Seattle-Puget Sound market. New York-based NGKF was formed in 2012 when owner BGC Partners merged the remnants of Grubb & Ellis with its Newmark Knight Frank.