Feb 06, 2025

Ewing & Clark puts the flex into KOMO Plaza

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Ewing & Clark has found another tenant for KOMO Plaza. This time it's local fitness chain Transform 180 Training, which is leaving Belltown for a new 7,752-square-foot space. The gym, run by Charith Madawela, also has locations in Madison Park and South Lake Union. Brokering both sides of the deal were Tom Graff and Cameron Kent at E&C. The gym replaces prior tenant Concentra Urgent Care, in the east building, facing Denny Way.

Issaquah embraces Barnes & Noble

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There's a new retail tenant at Issaquah Commons, as was recently announced by that very expansion-minded tenant, Barnes & Noble. The bookseller is taking the former Bed, Bath & Beyond space. Now a private company, the bookseller just opened another store at Bellevue Square. It's lead by James Daunt, who said in a statement, “We are opening new Barnes & Noble bookstores at a pace unseen in decades, and we do so with a focus on returning to communities we once served. We are so pleased to be back in Issaquah, and our booksellers are very excited to welcome customers into this stunning new bookstore.” That store will be managed by Charlene Lee, who'll host a grand opening event next Wednesday morning with Marissa Meyer, author of “The Happy Writer” and “The Lunar Chronicles.” The old Issaquah store was at Pickering Place for two dozen years, before its lease ended in 2020. Since its acquisition by English investor Elliott Advisors, Barnes & Noble has been returning to its brick-and-mortar roots. It opened many new locations last year, and expects to add 60 this year — Issaquah and Bellevue included. Heitman Capital Management owns Issaquah Commons, which is also home to REI, Trader Joe's, Target, Safeway and more than a dozen other tenants. (Bed Bath & Beyond went into Chapter 11 bankruptcy two years back, closing most locations.) Avison Young brokers the space.

Lease signed in Kirkland

At the Peter Kirk Square Office Park in Kirkland, Ryan Dunham Real Estate recently placed a new tenant. That would be mortgage lender Cardinal Financial, which is taking 600 square feet. The business center is a few blocks north of Kirkland's old downtown, on the slope up Market Street.

Jan 30, 2025

$42M secured for 179 Puyallup units, plus retail

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George Smith Partners has its two main offices in New York and Los Angeles. It also has a base in Bellevue. The firm, aka GSP, recently announced that it landed a $42.5 million construction loan for a 179-unit garden apartment project in Puyallup, which also has three planned retail buildings. Matthew Fisher, in Bellevue, and Grant Pugatch, in L.A., arranged the construction-to-permanent loan, from an unnamed source. The borrower-developer wasn't named, nor were other details supplied. The project looks to be East Town Crossing, at 2902 E. Pioneer, which broke ground last year. Kidder Mathews represents the remaining 5,000 square feet, with a third retail pad already claimed.

Gantry lands $53M in refinancing

Gantry has been busy refinancing apartment projects around the region. First, down in Vancouver, the 556-unit Mission Hills complex benefited from a $23 million refinancing package arranged by Blake Hering and Abi Hunter, in the firm's Portland office. A life insurance company supplied the 10-year, fixed-rate loan. Hering said in a statement, “Multifamily remains one of the most sought-after asset classes for lenders.” Second, working out of San Francisco, Andy Mekjavich, Ben Johnson and Abigail Hunter secured $30 million for a trio of properties in our state and Oregon. Those were said to be stabilized retail, industrial and multifamily assets, with no other details offered. Again, an unnamed life insurance company was the lender.