Mar 08, 2007

The Benaroya Co.

The Benaroya Co. sold Oregon Technology Center in Hillsboro, Ore., to German-owned SolarWorld AG for $40 million. Benaroya and RPI acquired the building from The Park Co. of Oregon in September of 2006. The center is a 400,000-square-foot tech complex on 46 acres, including clean rooms, crystal growing areas and office space. It was originally designed by Komatsu Silicon America to manufacture silicon wafers for semiconductors. SolarWorld AG will move its production facility from Vancouver to Hillsboro and produce solar silicon wafers and solar cells starting this summer. SolarWorld has facilities in Germany, Sweden and the United States.

Emeritus

Seattle-based Emeritus Corp. has closed on the purchase of 24 communities it previously leased. They were originally acquired by Emeritus in 2002 under a lease with Fretus L.L.C., an entity in which Emeritus CEO Dan Baty has ownership interests. Emeritus has purchased all membership interests of Fretus for $145 million, inclusive of transaction costs. Capmark Finance is providing $140 million of mortgage financing. The 1,651 units offer assisted and memory loss services to seniors in six states.

NAIOP industrial panel/education forum

The monthly breakfast meeting and annual education forum of the National Association of Industrial and Office Properties will be held March 20 at the Washington State Convention and Trade Center in Seattle starting at 7 a.m. The NAIOP breakfast meeting will feature an industrial developer panel with Mike Ruhle of Opus Northwest, Brent Jackson of Schnitzer Northwest and Roy Bennion of Sandorfy Bennion Development. The educational forum runs from 9:15 to 7 p.m. Speakers include Jim Hebert giving an economic update; Chris Osborn giving a legal update; Arvin VanderVeen moderating a panel of real estate brokers talking about what makes them successful; and Scott Reynolds of the University of Washington on business ethics. Developers Joe Blattner of Tarragon. Rob Arron of Vulcan and Dale Sperling of Unico will talk about the impact projects can have on their communities. There will also be a trade show and networking events. For information contact the NAIOP office at (206) 382-9121.

NAIOP South Sound Meeting March 9

The NAIOP South Sound Meeting will be held March 9 at the Tacoma Club-Rainier Room in Tacoma from 7:30 to 8:30 a.m. The speaker is Don Meyer, executive director of the Foss Waterway Development Authority, talking about current and upcoming projects. He will look at the development authority's projects as well as those of the Port of Tacoma, Totem Marina, Cross Water and in the Dome District. For information contact Jillanne Bates at the NAIOP office at (206) 382-9121.

Springbrook Properties

Two hospitality consultants, Mary Arnstad, president of Arnstad & Associates, and Bruce C. Hraba, president of Waterford Hotels & Inns, will oversee the development of Springbrook Properties' new inn, restaurant and spa in Newberg, Ore. It is expected to open in 2009. Arnstad and Hraba were named to their posts by Joan Austin, Springbrook president.

Peterson Sullivan

The Seattle accounting firm Peterson Sullivan hired Jennifer Sacayanan as senior accountant assigned to the audit practice group. She has three years experience in public accounting.

REI

Seattle-based outdoor equipment retailer Recreational Equipment Inc. hired Jeff Zon as vice president of information services. Zon will lead a 180-member team. He was with Whole Foods Market.

The Central District Forum

Seattle nonprofit The Central District Forum for Arts & Ideas received a $70,000 grant from The Paul G. Allen Family Foundation to support development of the organization for the next two years. It is the largest grant in the forum's history. The forum presents and produces African-American cultural programs.

Fisher Communications

Seattle-based Fisher Communications hired Karen Aliabadi as vice president of human resources. Aliabadi has more than 20 years experience, most recently at Federal Home Loan Bank of Seattle. Fisher Communications owns and manages television and radio stations.