Aug 10, 2023

NAIOP focus on south Puget Sound

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Sept. 7 marks the date for NAIOP's South Sound Broker Forecast lunch and panel discussion, to be held at 11 a.m. at Tacoma Convention Center. Panelists will include the moderator, Tina Pappas of NAI Puget Sound Properties; Harrison Laird of Lee & Associates; Austin Kelley of Kidder Mathews; Joel Jones of Neil Walter Co.; and Josh Parnell of First Western Properties. Topics are expected to include interest rates, debt markets, construction costs and the state of the market in general. One office case study to discuss? The former downtown office building once occupied by DaVita (pictured); the owner couldn't find new tenants, and now it's flipping to apartments. Details and registration: naiopwa.org.

KM promotes Shaheen

Shaheen

Kidder Mathews has promoted veteran broker Michael Shaheen, the firm recently announced. He'll become senior VP and market leader, based in the Tacoma office. There he'll oversee business development, client relations, risk management and KM's property teams. KM's Erin French said in a statement, “We look forward to the energy and enthusiasm Michael brings to his new role. His expertise in optimizing asset performance, achieving operational excellence and delivering exemplary client service will support and bolster the firm's already strong position in the market.”

Residential brokers combine

Century 21 North Homes Realty recently announced that it's joining forces with Jet Realty, based in Olympia. The former residential brokerage is based in Lynnwood, and is an active single family broker in Island, Skagit, Snohomish, King and Pierce counties. It says it's the largest Century 21 affiliate in our state; and now it gains a further foothold in Thurston County. The firm's Michael Killmer said in a statement, “We embody a true family-oriented culture that abides by our mission of changing people's lives for the better — a focus that is also apparent in the efforts of the Jet Realty team.” The latter firm, with about 17 agents, will continue under the leadership of Jim Perry. At a national level and beyond, Century 21 now has about 13,500 offices in 85 countries. It's owned by publicly traded Anywhere Real Estate.

Ryan opens 65 Horton

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Builder and developer Ryan Cos. began work on its 65 Horton industrial project in the fall of 2021. Now the four-story SoDo building, with some 140,312 square feet, is open and leasing. CBRE's Andrew Stark and Zac Snedeker are representing the space. The listing appeared in June, not long after the first temporary certificate of occupancy was issued for 65 S. Horton St. (That's just north of the Spokane Street Viaduct, and east of state Route 99.) Most floors have about 40,000 square feet, and are divisible down to 10,000 square feet. All floors have an 18-foot clear height, and 65 Horton has 10 truck loading bays plus 82 surface parking stalls. Ryan's financial partner was GTIS Partners, of New York, and the architect was Nelson.

TMR elevates duo

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Multifamily investor Thayer Manca Residential has rebranded as TMR Investments. And now, the firm just announced, it has named two new partners from within its ranks. Molly Santucci joined TMR in 2015, and has since aided in over $900 million in deals. A six-year veteran with TMR, Ryan Sheridan has focused on property management. Firm founder Joe Manca said in a statement, “We are thrilled to welcome Molly and Ryan to the leadership team. Their fresh perspective and diverse set of skills has undoubtedly enhanced our organization, and we are eager to continue to leverage their experience and insights to drive our future growth.” TMR's current portfolio stands at 3,425 units in five states, which it values at over $850 million. One example, pictured, is the 338-unit Desert Shadows, in Tucson.