Aug 13, 2021

Pierce Transit

Griffus

The Pierce Transit Board of Commissioners has approved a contract with Mike Griffus to serve as the agency's new CEO. Griffus has served as Pierce Transit's chief operating officer since 2016, where he directly managed about 80 percent of the agency's employees, including its 500 bus operators. He was also responsible for safety and security across the system, including serving as the agency's chief safety officer, and negotiated the contracts for Pierce Transit to operate Sound Transit's express bus service. Prior to joining Pierce Transit, Griffus served as chief executive officer of Keolis Transit America, a bus, shuttle, taxi and fleet transportation company. From 2006 through 2009, Griffus was president and chief operating officer of Veolia Transportation, where he orchestrated the company's North American transit operations. Griffus' other transportation experience includes serving as senior vice president and regional vice president of operations at Laidlaw Education Services, and chief operating officer at Bauer Transportation. The Pierce Transit Board of Commissioners began its nationwide CEO search earlier this year after former Pierce Transit CEO Sue Dreier announced she would be retiring this summer. Dreier served in the role for six years.

NW Natural Holding

NW Natural Holding's board of directors has elected Malia Wasson as its new board chair. Wasson is the first woman to chair the company's board of directors. For the past seven years, Wasson has served as a member of the board, most recently as chairperson of the audit committee. In addition to her role on the board, Wasson is chief executive officer of Sand Creek Advisors, which provides business consulting to chief executive officers of public and private companies. And prior to that, she was an executive vice president of commercial banking at U.S. Bank, and served as president of U.S. Bank's Oregon and Southwest Washington operations from 2005 to 2015. Wasson currently serves on the board of directors of Columbia Sportswear, where she chairs the audit committee. She is a director and past chair of the Oregon Business Council and serves as a senior fellow at American Leadership Forum. Northwest Natural Holding is headquartered in Portland, and through its subsidiaries has been doing business for over 160 years in the Pacific Northwest.

Lighthouse

Lighthouse, a provider of technology-enabled ediscovery, compliance, and information governance services, announced it has completed its acquisition of H5, an industry leader in advanced search, review, and data analytics products and services. H5's approximately 250 employees will join Lighthouse to help meet demand for technologies and services that span the entire client data life cycle, and embrace the rapid shifts to cloud and hybrid environments. The company also announced that Lon Troyer has joined Lighthouse's executive leadership team as the vice president of review and advanced analytics. Troyer was formerly the executive managing director and head of professional services for H5 and brings a diverse background in technology-assisted review, linguistic modeling, advanced information retrieval strategies, and project management to his role with Lighthouse. Lighthouse is headquartered in Seattle, with offices throughout the United States, and in the United Kingdom, Switzerland and India.

Aug 12, 2021

Emerald Heights

Health Services Administrator Annie Zell of Emerald Heights, a resort-style Life Plan Community, has been recognized by LeadingAge Washington with the Award of Excellence for Advocacy as part of its Excellence in Leadership 2021 Awards. LeadingAge, an organization dedicated to improving the aging experience nationwide, represents over 5,000 nonprofit aging services providers and other mission-minded organizations, encompassing the entire continuum of aging services. The LeadingAge Awards Program recognizes those individuals and organizations that have made an outstanding contribution in the fields of aging, health care, housing, and community-based services. A licensed nursing home administrator for over 20 years, which has included the last nine years at Emerald Heights, Zell was the first female health services executive in Washington state to advocate for the adoption of this more advanced certification and leadership in long-term care. She also serves on the board of Nursing Home Administrators in Washington in various roles, including vice-chair or chair for the last eight years. Emerald Heights is a nonprofit senior housing and services organization located in the Education Hill area of Redmond.

Visus Therapeutics

Visus Therapeutics, a clinical-stage pharmaceutical company focused on developing ophthalmic therapies to improve vision for people around the world, announced the closing of $20 million in preferred stock financing, led by LSP in Amsterdam, along with participation from Sage Partners of Hong Kong, Johnson & Johnson Innovation — JJDC, and other inside investors in the company. In conjunction with this financing, John de Koning, Ph.D., a general partner at LSP, has joined the company's board of directors. For more than a decade, de Koning was the organizer of BioCapital Europe, an annual life sciences investment conference. The company recently announced that it will be hosting its debut Capital Markets Day on Aug. 31 in New York City and virtually for investors and media. Visus Therapeutics has offices in Seattle and Orange County, California.

AAA Washington

MAPFRE Insurance and AAA Washington have entered into definitive agreements to form a jointly owned insurance company to write automobile and homeowners insurance in Washington and North Idaho. The joint venture, which is subject to regulatory approval, will be known as the Auto Club MAPFRE Insurance Company. The company's products will be designed specifically for AAA members in Washington and North Idaho. AAA Washington is the largest independent personal-lines insurance agency in Washington, serving Washington and North Idaho. AAA Washington will remain an independent insurance agency and offer the new Auto Club MAPFRE Insurance Company's products under the AAA Insurance brand. It is anticipated that the joint venture will begin operations in the fourth quarter of 2022. MAPFRE Insurance serves policyholders in 13 states and is based in Massachusetts.

Sweet 15 for Kent Station

Has it really been that long? Launched in time for the Great Recession, Tarragon's 18-acre Kent Station development has survived and even thrived, despite the last financial crisis ongoing pandemic. The first of four phases opened in 2005; and the last, the 154-unit Dwell apartments, debuted in 2016. To celebrate its late-pandemic rebirth, Tarragon recently announced that “leasing numbers are at an all-time high” on the retail and residential fronts. The developer says Dwell is 98% leased, and its tenants can shop at venues that are 91% leased. Adding to the mix this fall will be Japanese boutique Daiso, Honest Nails and an expansion for Buds & Blooms. Longtime tenants include the AMC multiplex and Green River College. In all, the mixed-use complex totals about 470,000 square feet. Upcoming events include the Cruisin' Kent Car Show, on Aug. 22. Rail commuters can also enjoy the short ride to downtown from Sound Transit's Kent Station stop.

CBRE adds detail to $125M Eastgate sale

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American Assets Trust, of San Diego, announced in May that it would pay $125 million for the 14-acre, four-building Eastgate Office Park. A Kennedy Wilson-related fund was the seller, and the deal closed in July. Now CBRE has announced its role in the deal. Its Tom Pehl, Charles Safley, Lou Senini, Paige Morgan, Todd Tydlaska, Chais Lowell, Brad Zampa and Michael Walker represented the seller. The 1980s-era campus has about 280,000 square feet. The deal as worth around $446 per square foot. CBRE says that amenities include a large conference room and boardroom, various gym and fitness amenities, a full-service cafe, an outdoor patio and a walking path to nearby retail, restaurants, parks and hotels. Pehl said in a statement, “Eastgate Office Park offers a premier location, best-in-class on-site amenities and a diverse tenant roster with thriving tech and professional services companies. The buyer will benefit from strong in-place cash flow with proven recent leasing activity supporting additional upside opportunity.”

New manager at Suncadia

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CoralTree Hospitality, of Los Angeles, announced that it's the new manager of Suncadia Resort, over near Cle Elum. At the same time, said CoralTree, the resort would be added to the Destination by Hyatt franchise. CoralTree's Tom Luersen said in a statement, “Suncadia has always been a part of our family. Our parent company Lowe has been involved since its inception in the early 2000s. Suncadia has transformed the Cle Elum area over the last 20 years and we are looking forward to ushering the resort into its next chapter.” CoralTree is a division of Lowe, an active developer in our area. Lowe and Oaktree Capital own much of Suncadia (not the individual homes), and late last year put those portion of the resort on the market. (That was during the height of the pandemic.) JLL was selling the resort and undeveloped home sites; no deal has been announced. Suncadia offers over 40 miles of hiking and biking trails, two golf courses, spa, inn, the Lodge, rental units and more. It's unclear if the resort is still for sale.