Sep 18, 2025

BH Properties

Osenbrock

Based in Los Angeles, BH Properties owns Pacific Place, and has a local office to run that and other area holdings. The firm announced this month that Megan Osenbrock has been hired as a senior asset manager. She makes the move from Unico Properties. Jim Brooks of BH said in a statement, “Megan brings a rare combination of operational leadership and market intelligence that aligns seamlessly with our strategy in the Pacific Northwest. We're thrilled to welcome her as we accelerate our growth in the region.” Osenbrock added, “Being part of an agile, entrepreneurial team focused on transforming dynamic commercial assets aligns perfectly with both my experience and professional vision.” BH also owns the offices at Pioneer Square's Olympic Block.

Terreno completes big industrial buy

Terreno Realty lists both San Francisco and Bellevue as its headquarters. The large national REIT invests in the industrial sector all over the U.S. Last month, as the DJC and others reported, it paid about $232 million for the Woodinville Corporate Park, with Link Logistics being the seller of those nine buildings spanning 720,000 square feet. (Link is a Blackstone company.) Last week, Terreno announced another component to the portfolio sale: three logistics properties in Florida and New Jersey, for which it paid $194.3 million. Those have 509,000 square feet. Link wasn't named as the seller, but it was the same two parties doing the September deal. So in aggregate, Terreno has paid about $426 million for about 1.2 million square feet. The former Link buildings have a cap rate of about 5%, says Terreno.

Law firm signs at USBC

Photo by Emma Hinchliffe [enlarge]

What some still call the U.S. Bank Centre — or Center, take your pick — is generally now labeled as the USBC building, at 1420 Fifth Ave. Perform Properties, a Blackstone company, owns the recently renovated tower, with CBRE as its broker. Now the USBC is welcoming a new tenant, the heavyweight international law firm Arnold & Porter, which has its headquarters in Washington, D.C. It opened an interim branch here in July, then moved this month into the USBC. In the new space, it has 25 attorneys and staff. Pallavi Mehta Wahi leads the Seattle office for A&P, and said in a statement, “Our location not only anchors us in the heart of Seattle's business community, but also creates opportunities for growth, collaboration and leadership among our lawyers and professionals.” The tenant's brokers weren't announced. The landlord's brokers, at CBRE, are Scotta Ashcraft and Riley Shephard. (Perform Properties is the new moniker for EQ Office.)

Lee & Associates

Hull

Lee & Associates announced the promotion this week of its Andrew Hull, who is now a principal with the brokerage. He's been with the firm since 2018. Since then, Lee estimated that he's helped close some $350 million in deals. Said Hull in a statement, “I'm honored to step into this role, and proud to be part of a firm that truly supports its brokers and empowers them. The Pacific Northwest industrial market remains dynamic and full of opportunity, and I look forward to continuing to help our clients navigate it successfully.”