Jun 11, 2024

Redmond Police Department

Lowe

Redmond Police Chief Darrell Lowe was named president of the Washington Association of Sheriffs and Police Chiefs (WASPC) board. Lowe will be president for 2024-2025. Lowe served as vice president of WASPC for 2022-2023. WASPC was founded in 1963 and consists of executive and top management personnel from law enforcement agencies statewide. With nearly 1,000 members, it includes 39 county sheriffs, several hundred police chiefs, the Washington State Patrol, the Washington Department of Corrections, and representatives of Tribal and federal agencies. WASPC is the only association of its kind in the nation, combining representatives from local, state, tribal, and federal law enforcement into a single body working toward a common goal. WASPC's function is to provide specific materials and services to all law enforcement agencies in the state, members and non-members alike.

Harborstone Credit Union

Harborstone Credit Union will open a new branch in Federal way on Thursday with the grand opening of a permanent location, at 32210 Pacific Hwy, Suite M36. With a focus on serving the local community, the new branch is equipped with a conference space for community meetings and financial education opportunities. Harborstone's new Federal Way location emphasizes the importance of one-on-one interactions, offering private space for members to discuss their unique financial situation with their personal banker, and tailored products and services to help members achieve their goals.

Jun 07, 2024

Spectrum Effect

McCarthy

Kirkland-based Spectrum Effect has appointed Shaun McCarthy as president and chief revenue officer. McCarthy will lead Spectrum's global business strategy, to meet the increasing demand for its AI-driven interference analysis and mitigation solution, Spectrum-NET. McCarthy brings more than two decades of expertise leading sales teams across the telecom, hyperscale, and technology sectors. Before joining Spectrum, Shaun was president of North America at Nokia, leading operators through major changes, including the transition to 5G, broadband modernization, and the deployment of private wireless solutions. He previously served as vice president of worldwide sales at Cisco, and has served on the Board of Directors for both CTIA and 5G Americas, and is currently a member of the Joyous Advisory Board.

Spectrum Effect's mission is to solve the most challenging and costly problems in the wireless industry through innovation and automation. Spectrum Effect created Spectrum-NET, which analyzes and mitigates radio frequency interference using machine learning.

Banner Bank

Costa

Banner Bank has promoted Jim Costa from executive vice president to chief operating officer, in addition to his role as chief risk officer. Costa has nearly 30 years of experience in large and mid-size regional banks. Prior to joining Banner, Costa served as chief risk officer and chief credit officer for Minnesota-based TCF Financial, a $48 billion asset regional bank which is now part of Huntington Bank. While there, Costa managed the credit, risk and operations functions.

Banner Bank, headquartered in Walla Walla, is a Washington-chartered commercial bank that conducts business in Washington, Oregon, California and Idaho.

Jun 06, 2024

You can't spell NAIOP without AI

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Overhyped fad or a necessary new tool to use? Artificial intelligence is inescapable in the media at least, if not commercial real estate. So NAIOP has convened an AI panel to discuss at its June 12 breakfast meeting. The event starts at 8 a.m. at the Four Seasons Seattle. Your AI evangelists are Ian McFarland of Buildings IOT, Emmanuel Daniel of ALOSANAR, Zander Geronimos of PRODA and Michael Villegas from IA Interior Architects. Registration and info: naiopwa.org.

Wright Runstad

Yoo

In an announcement last month, Wright Runstad & Co. named Michael J. Yoo as its new chief investment officer. He'll also be a principal at the firm. He makes the move from J.P. Morgan Asset Management. At his old post, he helped with the financing of Wright Runstad's Rainier Square and Spring District projects. The developer's Andy Bench said in a statement, “We are delighted to welcome Michael to our leadership team. His institutional relationships and capital markets experience will be invaluable as we continue to source new business and development opportunities.”

JLL

Jones

JLL announced this week that Rachel Jones is joining the firm as a director on the industrial investment sales and advisory team. She makes the move from Newmark, and is also a lawyer as well as a broker. JLL's Buzz Ellis said in a statement, “We are thrilled to welcome Rachel to our team. Her exceptional track record and background make her a valuable asset. We are confident that Rachel's passion for real estate and her commitment to delivering outstanding service will greatly contribute to the ongoing success of our clients.”

ULI takes you to Everett

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There's a lot happening at the Port of Everett, with its new Hotel Indigo, apartments (including the Carling, pictured), retail and restaurants, etc. So it's a good time to travel north with our local chapter of the Urban Land Institute, which will conduct a walking tour at the port's steadily expanding Waterfront Place (and perhaps beyond) on June 26. Details and registration: northwest.uli.org.

Sage invests $100M for hotel conversions

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Based in Kirkland, Sage Investment Group recently paid about $13 million for an old motel (pictured) in the Eastgate area of Bellevue. That will be converted to workforce housing, which is Sage's investment model. This week the firm announced that has now deployed over $100 million in such investments. Prior to purchasing the Eastgate Quality Inn, it deployed $23 million in the first quarter, the company said. It now has 25 properties with over 1,800 units in five states. Sage CEO Ryan Sudeck said in a statement, “This accomplishment reiterates our strong belief that affordable and secure housing should be accessible to everyone.” Co-founder Emily Hubbard added, “Through these investments, we can continue our mission of bringing attainable housing to the communities that need it most.”

Alston Construction

Jones

Alston Construction announced the promotion of Tim Jones to senior superintendent in the Tacoma office. Jones brings more than 27 years of construction experience in various building types including industrial, mixed-use, multifamily and retail.

In addition to his extensive construction background, Jones brings valuable military experience, having served more than five years in the U.S. Army. He holds a certificate from the 4-year program at the Construction Industry Training Council of Washington (CITC).

Alston Construction is a general contractor and has been building since 1986.