Nov 20, 2025

Kaye leasing is going okay!

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In Belltown, Skanska USA opened its 31-story, 324-unit Kaye apartment tower this summer to residents. Down at the street level, the building has two bays of retail/commercial space, with about 5,200 square feet. The brokers are Real Retail's Maria Royer and Deborah Ross. Skanska said this week that those have been claimed by a gym and an eatery, both to open next spring. Eva's Cafe & Bar will take about 1,100 square feet. Its Mikayla Benedict also operates House of Eve and Evoke Cafe Bar (both downtown). She said in a statement, “We're excited to join Belltown's incredible neighborhood energy, and to share something warm, welcoming, and uniquely ours.” Jerard Macalma will be the executive chef for the grab-and-go operation, working with manager Bradley Anderson. On Kaye's north end, BodyRok will have about 4,200 square feet for its Pilates-style machines. BodyRok has two gyms in California, and is new to our market.

CBRE

Loveall

The Society of Industrial and Office Realtors announced this week that local broker Patricia Loveall, of CBRE, has been named this year's winner of the Mildred C. Hanson “Millie” Award. (The late Hanson was a top broker in the greater New York area.) Loveall, of course, has earned many other industry honors over her long career. SIOR's Saadia Sheikh said in a press release, “Patricia's decades of service and outstanding achievements exemplify the excellence and impact that women bring to the commercial real estate profession, and her commitment continues to inspire leaders across our industry.”

Sterling Realty Organization

Gibson

Sterling Realty Organization has a new director of asset management: Casey Gibson, who makes the move from Martin Selig Real Estate. He said in a statement, “As an exceptionally well-regarded organization, I look forward to contributing to the company's growth while adding value across all stages of the real estate investment life cycle.” SRO's Matt Skager added, “We're thrilled that he is joining our team, and are confident that his background and skills will contribute to our continued growth.” The company portfolio, extending to Utah, spans about 2.3 million square feet.

Kidder Mathews lands new tenants for Swig

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Everybody knows the Lake Union Building, at 1700 Westlake Ave. N., since it protrudes out over the lake — and has its own dock! (When constructed in 1970, such things were allowed.) Owner Swig Co., of San Francisco, owns the building, and recently announced two new leases. Terrell Marshall Law is relocating from Fremont to take 7,000 square feet. Its brokers were Connor McClain and Joe Conner at Colliers. And the financial advisory firm Mariner is taking 3,000 square feet. Its brokers were Bailey Hallis and Jake Bos of JLL. Swig's brokers are Todd Battison and Jeff Huntington of Kidder Mathews. Swig's Annie Doud said in a statement, “We're delighted to welcome Terrell Marshall Law and Mariner to the Lake Union Building, an ideal, eco-friendly location for innovative companies looking for high-quality work environments that combine modern amenities with inspiring lakefront views.” Occupancy for the five-story building is strong, with only about 9% of the space unclaimed.

LegacyFirst sets up shop

Taylor

MacFarlane Partners, of San Francisco, has been a periodic investor in our market. But it's had no irons in the fire since the pandemic. Now it's announced an independent new venture, or spinout, dubbed LegacyFirst, which will be based in Seattle, with a new office at Pier 70. MacFarlane veteran Landon Taylor will co-chair the new venture, which is to focus on partnering “with family offices, select institutional investors, corporations, large nonprofits and government — in transforming underutilized or undervalued commercial real estate into enduring engines of economic prosperity.” Co-leading the firm is Murad Siam, of Los Angeles firm IDS Real Estate Group. Also on board is Dirk Hallemeier, a veteran from MacFarlane and other California enterprises.

SIOR

Heeter

Last December, Kidder Mathews' Kraig Heeter was tapped to lead the Society of Industrial and Office Realtors Foundation. His role as SIOR foundation president has now begun. He said in a statement, “I'm excited to work with my colleagues to expand that impact, support our members and foster the growth of future leaders.” Heeter is a veteran in the industrial sector, working out of the Tukwila office. He's been a SIOR member for nearly a decade, and has been in the trade for over 20 years.

Fourth Avenue makes $22M Medford buy

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Fourth Avenue Capital has offices in Spokane and Seattle. It's a multifamily investor across the broader Pacific Northwest. And it recently announced a 96-unit deal in Medford, Oregon. It acquired the Ridgewood garden apartments, which were developed in the early 2000s. CBRE's Josh McDonald and Joe Nydahl worked both sides of the $22.1 million transaction, with the seller being Investors Capital Group. Fourth Avenue also assumed the old loan, with a very low 3.9% rate. Its Davis Vaughn said in a statement, “By selectively focusing on growing secondary markets with limited supply, we are able to deliver outsized yield to our investors.” Fourth Avenue now has about 1,500 units in its portfolio, with a value of around $450 million. It's also planning another 500-plus new units.