Jul 31, 2025

NAIOPWA says, Let's convert!

[enlarge]

The Ainsworth & Dunn building (aka the Old Spaghetti Factory)

[enlarge]

Board & Vellum’s office-to-resi conversion in Uptown

Sustainable development will be the topic de jour at a NAIOPWA confab to be held on Aug. 21. Let's note the venue first, since the new BNBuilders HQ is an excellent example: That's the Ainsworth & Dunn building (aka the Old Spaghetti Factory restaurant), a former warehouse sustainably converted into boutique offices. On hand to discuss such conversions, and all things sustainable, will be Bryan Zagers from Coughlin Porter Lundeen, Eric Vander Mey of Delta E Consulting, Case Creal of Gensler, Emily Evenson from Seneca Group and Marc Angelillo of Stream Real Estate. From the latter firm, let's also give a nod to its current office-to-resi conversion in Uptown, where a tired old 1980s office building will become 74 apartments. (CPL is also on that job.) Also, Gensler recently emerged as the architect for Vanbarton's planned residential conversion of the former American Can/Zulily building on the waterfront. The event begins at 4 p.m. Details and registration: naiopwa.org

CBRE does Yakima deal

[enlarge]

On the east side of the Cascades, CBRE announced its recent role — on both sides of the deal — in selling two medical office buildings on the MultiCare campus. MultiCare leases all 95,986 square feet in the duo. Terms weren't announced, nor were buyer and seller named. Chris Bodnar, Brannan Knott, Mindy Berman, Zack Holderman, Cole Reethof, Jesse Greshin and Marcus Yamamoto represented the seller. Paul Carr represented the buyer. Bodnar said in an announcement, “The hospital has occupied these buildings since 2005 and recently made a long-term commitment to continue to lease the facilities. These are mission critical assets to the hospital, housing some of their most important and profitable service lines at the campus.”

Keelbase Capital

Engst

Roeter

Keelbase Capital announced its launch earlier this month. The new shop, focusing on overleveraged properties and value-add investments, is led by industry veterans Cooper Engst — previously with Eastdil Secured — and Paul Roeter, who departs Cushman & Wakefield. Their goal is to raise up to $250 million in a climate where, in their estimation, about $105 billion in real estate is distressed. “We founded Keelbase Capital to meet the moment,” said Engst. “Property owners face a significant challenge today, with asset values that remain well below the peak and traditional lenders that can't provide cash-neutral refinancing. We're stepping into that void with flexible capital that will give owners a path forward.” Roeter added, “Values have dropped, owners are feeling pressure from lenders, and growing deal volume is finally providing pricing clarity.”

Buchalter adds to real estate practice

The law firm Buchalter has offices in Portland and Seattle. It recently added two attorneys in both, who both specialize in real estate. In Seattle, Ian Taylor brings experience in landlord- and tenant-side leasing, various forms of contracts and even airport hangar deals. In Portland, Michelle Da Rosa adds similar skills. Buchalter president Adam Bass said in a statement, “Ian and Michelle's exceptional skill sets and deep knowledge of complex real estate transactions will be a great asset to our clients and further expand our real estate capabilities in the Pacific Northwest.”

Skagit County

Janicki

Skagit County Commissioner Lisa Janicki has announced she will retire at the end of 2025 after 11 years of serving as County Commissioner for District 3. Janicki was first elected to the Board of County Commissioners in November 2014. Prior to running for county office, she worked for over 30 years as the chief financial officer for Janicki family businesses, which included oversight of several companies that encompassed forestry, land development, engineering, and composite aerospace manufacturing. Janicki was a founding member of North Star, a collaborative effort between all four city mayors, county commissioners, and service organizations in Skagit County to end homelessness and streamline effective crisis response, recovery and support services. Janicki oversaw the development of Martha's Place, the first permanent supportive housing development in Skagit County, Skagit First Steps Shelter, and the STAR Center. The STAR Center includes the currently operating North Sound Evaluation and Treatment Center, which offers 16-beds for acute inpatient mental health care. The second phase of the STAR Center includes a 48-bed crisis-stabilization center, and is expected to open in early 2026. Janicki has represented Skagit County on various boards statewide, as well serving on community boards such as the United Way of Skagit County, Economic Development Alliance of Skagit County, and Gonzaga University's Board of Regents. With the decision to retire before the end of her elected term, there will be a nomination process to select a replacement.

Helion

Helion, a Washington-based fusion energy company, has begun work on the site of its first fusion power plant, Orion, marking a major step in bringing fusion electricity to the grid. Located in Chelan County, the site was chosen for its ready access to transmission and legacy of energy innovation. In 2023, Helion announced a power purchase agreement that will provide energy from the plant to Microsoft by 2028, with Constellation Energy serving as power marketer. Helion began building in Malaga, Chelan County, on land it is leasing from the Chelan County Public Utilities District. This followed a mitigated determination of non-significance through Washington's SEPA environmental review process. Since 2023, Helion has been actively engaging with local and state stakeholders – including government agencies, tribal nations and the general public — in preparation for a siting and permitting decision. Helion will continue to work through the remaining steps in the permitting process to construct and operate a commercial fusion power plant on the site.

Jul 30, 2025

Avalanche Energy

Avalanche Energy, a fusion energy startup developing modular compact fusion machines, was awarded $10 million through the state Department of Commerce Green Jobs Grant Program for the development of its FusionWERX test facility in Richland. The facility is a first-of-its-kind commercial-scale testing facility for advanced fusion technologies that will leverage a broad scope radioactive materials license, advanced tritium management capabilities, and the company's breakthrough 300,000 Volt (300kV) fusion device.

“This announcement marks small-scale fusion's evolution from a laboratory curiosity into a neutron source that creates real-world value,” said Robin Langtry, CEO of Avalanche Energy.

The grant, which provides funds for projects that promote the growth of clean energy, will directly support approximately 12 skilled positions and fund the purchase of first-generation neutron-handling equipment for the facility. It is located in a facility owned by the Port of Benton, the former location of Kurion's modular detritiation prototype facility, which was previously licensed for tritium operations.

Avalanche says its breakthrough — operating its desk-sized magneto-electrostatic fusion machine at 300kV for hours with minimal power loss — makes it the most compact, highest-known-voltage fusion device ever built.

Daily Journal of Commerce

Milligan

The Daily Journal of Commerce hired Nina Milligan in July to serve in a part-time, temporary position as a journal staff reporter, focusing on architecture and engineering content.

Milligan brings expertise in both communications and construction industries. For over eight years, Milligan served as communication manager for the large master planned community, Issaquah Highlands. In that role she oversaw all media platforms, including a monthly print publication called Connections. Milligan focused her reporting on land use development, sustainability, real estate and civics.

Milligan has served the city of Issaquah on many boards and commissions, including the Urban Village Development Commission, Transportation Advisory Board, Planning Policy Commission, and on the City Council.

For the last three years, Milligan worked for the Seattle and Portland-based residential developer and construction technology innovator, Green Canopy NODE. As project manager, Milligan brought midsized multifamily projects from intake through feasibility, contracting, and design.

Milligan joins the DJC team to cover for Emma Lapworth, the DJC's architecture and engineering editor, who is set to go on maternity leave in September.

PLS Engineering

Ayers

French

Maiden

PLS Engineering hired Ashton Maiden to join its Vancouver team. Maiden has a Bachelor of Science in Civil Engineering from Oregon State University. Maiden's past work focused on water and wastewater projects, research in standards and regulations, analyzing submittals and permits, and creating a survey grid. He provided pre-design work on a wastewater treatment plant and was responsible for weekly on-site project visits.

Maiden has hands-on construction experience as an intern laborer and a masonry laborer. He is skilled in AutoCad, SAP2000, Civil 3D and Bluebeam programs.

PLS also engaged return summer interns Alexander (Zander) French and Madeline Ayers for another year to support a variety of projects.

Farallon Consulting

Lee

Farallon Consulting announced the appointment of Yong Lee as its new chief financial officer.

As CFO, Lee will oversee all financial operations at Farallon, working closely with the leadership team to align financial strategies with business objectives and maintain the company's financial health and stability.

Lee holds a Bachelor's degree in Aeronautical Engineering from the U.S. Military Academy and an MBA in Finance from the University of Washington. Prior to Lee's corporate career, he served as an officer in the U.S. Army Special Forces. Lee previously served as a CFO at both a professional services firm and a manufacturing firm.