Oct 16, 2025

Bay Vista lands new tenant

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International Workplace Group announced a bevy of new co-work locations this summer, as the DJC then reported. Among those half dozen-plus flexible office hubs, a few more were slated to open this fall. Belltown's Bay Vista office tower — separate from the condos upstairs! — is notable among them. The offices were foreclosed last fall by the lender, Värde Partners, which is working with Bayspring Real Estate Partners to repopulate the space. On their behalf, Cushman & Wakefield has been representing the five podium office levels at 2815 Second Ave. IWG will open at Bay Vista next month using its Regus brand (other brands include Spaces, HQ and Signature). It didn't specify the office footprint, but the vacant fourth floor seems likely, with 16,035 square feet. Since the pandemic, for IWG and its competitors, the co-work niche has proven valuable for companies that shed leases and staff, then find themselves in need of short-term space.

Colliers finds $33M for Ballard duo

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As the DJC reported in April, Saratoga Capital then started on two facing Ballard apartment projects, east (pictured) and west, totaling about 124 units. GGLO is the architect and W.G. Clark the builder. Last month Colliers announced that it had arranged a $33 million construction loan for what are now dubbed The Pacific and The Cascades. Banner Bank was the lender, with the note carrying an initial three-year term. Colliers' Mark Plenge led the financing effort, and said in a statement, “So many ground-up new construction developments in the past two years have just not penciled out, but in this case Colliers Mortgage was able to negotiate the most favorable and lowest-cost terms from Banner Bank to enable this project to sensibly move forward.” Completion is expected in 2027.

Somm day my prince will come

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Whether you're a member of NAIOP Washington or not, you can enjoy a ticketed tour and wine tasting at the new Somm hotel at Woodinville's ongoing mixed-use Harvest development. The event begins at 4 p.m. Oct. 29. Attending will be some of the hotel/spa's prime backers, including Kurt Jensen from Jensen Davenport Architects, Kent Halvorson of KTM Construction and Matt Hagerman from Columbia Hospitality. Details and info: naiopwa.org

Urban Land Institute hosts coffee gathering

Next Tuesday morning, at 8:30 a.m. sharp on Oct. 21, ULI Northwest member or not, you can join a ULI coffee klatsch at Rainier Square's two-year-old Fonte Bar. (That's on the second level, at 401 Union St.) The friendly networking event typically lasts about an hour. Registration and details: northwest.uli.org

A bit more about Koz Uptown

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The 169-unit Koz Uptown apartments opened late last month, as the DJC first reported. (The ribbon snip followed two days later.) Now comes a bit more info from Koz and its partners. Goldman Sachs was a lender, and its Dan Alger said in a press release, “This development was a powerful example of how strategic investment and collaboration can deliver high-quality, affordable housing in vibrant neighborhoods.” MSquared, also of New York, was also a financial backer. Its Alicia Glen added, “This investment falls right in line with our philosophy to build high-quality housing that offers access to transit, jobs and essential resources.” Cushman & Wakefield's Chris Moyer led the financing effort for the developer. Koz was the architect, and Kirtley-Cole the builder.

Oct 09, 2025

NAIOPWA lauds its legends

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South Lake Union Discovery Center

For members of NAIOP Washington, on Oct. 23, there's to be a meet-and-mingle gathering for those wanting to buttonhole its “legends and leaders.” The Thursday event is set for 4 p.m. at the South Lake Union Discovery Center. Eminent industry figures on hand will include Tony Toppenberg of Hudson Pacific Properties, John Teutsch of Teutsch Partners, John Pietromonaco of Pietromonaco Jackson Properties, Rob Aigner (now semi-retired and a consultant) and Chris Rossman from Fourth Avenue Capital. That's a lot of industry history, and collective wisdom, in one room. Details and info: naiopwa.org

Continental Properties

Hynes

Claudio Guincher has been the longtime leader at Continental Properties, a firm his father once helmed, and he isn't going away. Rather, he's ceding his role as president, with Kyran Hynes now being promoted to that position. Hynes has been with the firm for about seven years, and counts nearly two decades in the multifamily sector. He notably helped lead the recent development of the 110 Roy apartments in Lower Queen Anne. Continental estimates that 110 Roy, the Vela in Kirkland and Bellevue's Margot (formerly the Blu) contribute to about $1 billion in assets and some 1,350 units — both new and renovated — in Continental's portfolio.

SoDo enterprise finds UK owner

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When a small SoDo warehouse sold four years ago for a bit over $3 million, the DJC called its new owner a furniture company. That's not exactly correct. The business known as Trefethen & Co. Bader & Olson, aka Trefethen, is a specialist in high-end furniture logistics and storage. We make that distinction because the building and business are now part of Cadogan Tate, which recently announced the acquisition. Based in London, that international enterprise provides “integrated, end-to-end services across art, furniture and interiors.” Its Ben Clark said in a statement, “With Trefethen's esteemed presence in the Pacific Northwest and expertise in moving and furniture handling, we are now able to offer clients a clear advantage, not only through our broadened geographic reach, but also by delivering a consistent standard of excellence across art, interiors and installations worldwide.” Perkins Coie advised Cadogan Tate on the deal. Terms were not announced. The warehouse is at 3430 E. Marginal Way S., just north of the Spokane Street Viaduct.