Aug 25, 2022

Kymeta

Kymeta announced today the addition of retired Boeing executive Nicole Piasecki to its board of directors. The news follows Steve Spengler's retirement from the board after serving for five years. Piasecki has over 35 years of experience in both rotary and fixed wing aircraft at Boeing and United Technologies. She has held positions including head of marketing for the Boeing Commercial Division and president for Boeing Japan. In addition to Kymeta, she also served as chairman of the board at Seattle University and a board member of Weyerhaeuser, Howmet Aerospace and BAE Systems. Piasecki has previously served on the Federal Reserve Bank of San Francisco, Federal Aviation Authority Management Advisory Board, and the US Department of Transportation Future of Aviation Advisory Committee. Additionally, Kymeta has added Lt. General (retired) Fran Beaudette to the company's board of advisors. Beaudette spent 32 years in the US Army, most recently as the head of USASOC, a thirty-six thousand soldier command responsible to man, train, organize and equip the US Army's Special Operations. Kymeta is a satellite communications company based in Redmond.

Seattle Sports 710

Seattle Sports 710 AM announced the return of the “Brock & Salk” show. On Sept. 6, “Brock & Salk” will return to the weekday morning lineup from 6-10 a.m. The show previously aired on Seattle Sports from April 2009 – September 2019, and then transitioned to a weekly podcast. The show features Brock Huard and Mike Salk. Huard, a Puyallup native, is a former quarterback for the University of Washington and Seattle Seahawks. He is also a national college football broadcaster for FOX. Salk has over a decade of experience with the station, and has served as both a morning show host and then program director for Seattle Sports. Seattle Sports serves as the radio flagship station of the Seattle Mariners and Seattle Seahawks. Seattle Sports programming can also be heard in Spokane, Tri Cities, and Yakima, Moses Lake and Wenatchee as part of the Seattle Sports Radio Network.

Berkadia secures $28M for Tacoma buy

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Berkadia announced an acquisition financing deal that closed earlier this month in Tacoma. For the new 114-unit 6th & Alder, the firm's Rob Doxsee and Michael Manolides landed a 30-year bank loan worth $28.5 million. The fixed-rate note loan features one year of interest-only, a 30-year amortization schedule and a 62% loan-to-value ratio. Doxsee said in a statement, “The property had not yet been stabilized and was still in lease up when we went to market for the financing. It was a winning solution for everyone.” The building, completed last year at 3118 Sixth Ave., sold for about $46.2 million this month to a Seattle family investment group. Public records identify HomeStreet Bank as the lender.

KM's King wins prognostication contest

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The online commercial real estate exchange Ten-X recently concluded what it called the “Battle of the Bids.” Competing brokers tried to guess the final closing prices on ten properties being offered on the global exchange. Some 15,000 brokers vied with their predictions, in eight rounds lasting from April to the end of last month. The contest distributed $3 million in prizes over the rounds, and the overall winner took home $1.2 million, plus a $100,000 bonus for charitable giving. Who won? Local broker Mike King of Kidder Mathews, the firm announced. His bets had an accuracy rate of 92.7%. He gave the bonus money to Big Brother Big Sisters of Puget Sound, and said in a statement, “I've been involved with Big Brothers Big Sisters since 2007. It feels great to be able to double down and donate another $100,000 to a great organization.” Ten-X is part of CoStar. Ten-X president Steve Jacobs said, “Being the first to gamify CRE, CoStar Group set out to showcase both the power of Ten-X and the talent of the brokers that use it.” Based in the Bay Area, Ten-X was launched in 2009 to help liquidate casualties of the Great Recession, and is now the world's largest online commercial real estate exchange.

Slattery tilting concrete in Lacey

Slattery Properties and its broker, Lee & Associates announced that a new industrial building is well under way in Lacey, at 8551 Commerce Place Drive N.E. That's near at least three other nearby buildings from the same developer. With the working name of Commerce Place Industrial, the building should open in the first quarter of next year, right next to Interstate 5, with 87,060 square feet. It represents Slattery's eighth project in Thuston County. Vanessa Herzog of Lee said in a statement, “The Lacey submarket has exploded with growth, and is now nearly fully developed out. Slattery has been able to capitalize on that growth at a pivotal moment.” She, Andrew Hill and Billy Moultrie are representing all of Slattery's projects in that area.

Cushman & Wakefield

Roeter

Cushman & Wakefield recently announced that Paul Roeter has joined its equity, debt and structured financing team. He makes the move from Urban Renaissance Group. C&W's Alison Beddard said in a statement, “Paul exemplifies the exceptional, market-leading talent we continue to add in our commitment to growing our Pacific Northwest business and servicing our clients at the highest level.” Also working with Roeter in the EDSF group are Dave Karson and Chris Moyer, who have recently helped finance projects including Avenue Bellevue, The Confidential and Skyglass Tower, all now under construction.

Tribe tops out on 18-story hotel

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The Muckleshoot Tribe announced a coming ceremony on Friday to celebrate topping out on its 18-story hotel and casino expansion project in Auburn. Marnell Cos. is the architect, and Swinerton is the builder. Work began last year, but was delayed by the concrete strike. Next year is the anticipated opening date for the 400-room hotel, the tribe's first, which will include a top-floor steakhouse, lounge and bar. The bottom level will house expanded new gaming areas. A pool and spa are also planned for the 482,500-square-foot project. A new seven-story parking garage opened for use last year, bringing the overall parking count to some 4,193 stalls.

CenterPoint explains Kent deal

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As the DJC reported this week, CenterPoint Properties Trust just paid $14.2 million for an old and relatively small industrial building at 913 Central Ave. S. in Kent. The land, with about 4.5 acres, seemed to hold the real value. Now CenterPoint has explained the deal in a press release. Turns out, it's immediately north of a roughly 6-acre truck yard it purchased back in 2016; thus the recent sale represents an assemblage of nearly 11 acres. There are no imminent building plans. CenterPoint's Evan Lippow said in a statement, “CenterPoint will continue to prioritize assemblage opportunities in the nation's premier infill industrial markets, where there is consistent leasing demand for low-coverage real estate and high barriers to entry for future development.” Jim Honan of Neil Walter Co. brokered the recent sale, and is representing the former Thermo King building, which offers 19,744, and the ample yard space.

NAIOP breakfast set

Hill

September is nigh, and NAIOP's next monthly breakfast will be at 8 a.m. Wednesday, Sept. 21, at the Four Seasons. The weighty subject is capital markets. Which way are they headed? Is a recession near or not? The experts will make their forecasts. Unico Properties' Lori Hill will serve as moderator. Her panel includes Reid Rader of Eastdil Secured, David Young of JLL and Mike Wood of Gantry. Details and registration: naiopwa.org.

Knock adds to team

Locally based Knock, which makes management software for multifamily owners and operators, announced three recent hires. Jen Chestnutt joins the firm as VP of marketing; she has prior experience at Griffis Residential, Aimco and Flournoy Properties. Alex Griffis becomes president of product; he makes the move from technology firm Unanet. And Jen Jackson is now senior Senior VP of customer success; she comes from Serenova (now Lifesize).