Oct 04, 2018

CBRE expands Tacoma team

Zachary Ota

Michael Ota

CBRE hired brothers Michael and Zachary Ota in its Tacoma office. They have experience with their family's property management and development company, G&K Ota Family LLC.

Hughes Marino taps attorney

Richman

Hughes Marino named attorney Kathryn Richman as its general counsel. She has two decades of experience in the field. The California-based firm specializes in representing tenants and buyers. It opened an office last year in Seattle's Russell Investments Center.

New Ballard HQ for Rad Power Bikes

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Rad Power Bikes has leased 26,457 square feet at the nearly completed West Woodland Business Center in Ballard. The four-story, 72,000-square-foot project is at 1128 N.W. 52nd St., on the former Ness Cranes property, and was developed by Avenue 55 and Columbia Pacific Advisors. BCRA is the architect and Sierra Construction Co. is the contractor. CBRE's Bryan Hester represented Avenue 55. Rad will open the new HQ in January. It was founded in 2015 in Ballard. Rad's Mike Radenbaugh said in a statement, “Our company has grown so fast that we've had to move locations three times within the past three years.” The building is now 50 percent leased. Stoup Brewing is also planning an expansion there.

JLL offers 2 Totem Lake buildings

JLL is marketing Building A1 and Building A2 at Kirkland 405 Corporate Center, at 11411 N.E. 124th St., on behalf of the owner. The buildings total 130,390 square feet and are 98 percent leased. JLL's Lori Hill said, “Kirkland is a highly sought-after location among leading employers looking at the Pacific Northwest.” Another property there, Building A, sold in March for almost $14.8 million, or $357 per square foot. JLL says the Eastside vacancy rate is now at 5.9 percent.

SeaLevel plans 266 units in Everett

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SeaLevel Properties is planning 266 units as part of the Port of Everett's 65-acre Waterfront Place Central redevelopment. They're scheduled for completion in 2020. A recent marketing event attracted 100 people, SeaLevel reports. Construction of the two-building complex is expected to begin next year. Everett Waterfront Apartments will be in the Fisherman's Harbor district of Waterfront Place Central. SeaLevel's John Shaw said in a statement that the turnout “confirms our instincts that there is indeed very high demand for high quality waterfront living in Everett.” Rents have not yet been set. Units will range from studios to three-bedrooms. Waterfront Place Central will have about 660 housing units, the Hotel Indigo (which broke ground in March), restaurants, and 662,000 square feet of commercial, retail and marine sales and services.

Sep 27, 2018

80 pre-sales at Mira Flats

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Mira Flats in Bellevue has 162 condos.

Intracorp says that Mira Flats condominium in downtown Bellevue is selling nicely: nearly 80 of 162 units have been pre-sold. Prices start in the $400,000s. The complex, at 1085 103rd Ave. N.E., will open early next year. The project was begun by Daniels Real Estate and Create World America (a Chinese-backed entity) as apartments. GGLO was the architect, and Chinn Construction was the general contractor. Intracorp announced earlier this month that it will buy the six-story project; that deal hasn't closed yet.

Oakpointe shows Ten Trails model homes

This Saturday, Sept. 29, Oakpointe Communities will debut four new model homes for its 2,200-acre Ten Trails development. They open at noon at Civic Park, at 23201 Roberts Drive in Black Diamond. The models were built by Conner Homes and Lennar. Ichijo Technological Homes and Rudd Development will also be on hand. Ten Trails could total 6,000 homes by 2030, with one million square feet of commercial space. Phase I, with about 350 homes, is now underway. The first homes are expected to be ready next year. Starting prices are in the high $400,000s. For more info: tentrails.com.

Davis Property starts DuPont building

Davis Property & Investment started a new industrial building at Center Plaza in DuPont. Jeff Davis said in a statement, “DuPont has been a great market for DPI over the last five years, with our most recent building completed in 2016 leasing up to a stabilized 75 percent occupancy in just 12 months.” Building 5 will have 35,455 square feet and an estimated value of $6.2 million. Completion is scheduled in the first quarter of next year. Monte Decker and Chris Cowles in CBRE's Tacoma office are leasing the space. Center Plaza is part of the 3,500-acre Northwest Landing master planned community.