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November 9, 2023
NAIOP's Night of the Stars: Let's recap the winners!
By BRIAN MILLER
Real Estate Editor
Real Estate Editor
NAIOP's annual Night of the Stars gala was held last Friday evening at the Hyatt Regency Bellevue. The nominees were selected by popular vote among NAIOP members; then a panel of industry experts made the judgments. We'll group this year's winners first by people, then by specific projects, and lastly by some more general awards.
Click here to see NAIOP's own dedicated website.
TOP PEOPLE
Investment Broker: Jim Reed at Lee & Associates. Didn't he win this same category last year? Yes he did. We attribute that to skill, not luck.
Office Brokers: David Rothrock, Doug Barrett, and Matt Brennan of Meriwether Advisors. Hey, in a down market, sometimes winning means just surviving.
Industrial Broker: Thad Mallory at Newmark. Among his current offerings are the big Fortress Puyallup building and Bridge Point 180 in Kent.
TOP PROJECTS
High-Rise Residential Development: The Ivey on Boren. Holland Partner Group and Weber Thompson delivered this 44-story, 406-unit tower last fall. One of Holland's growing clutch of Denny Triangle high rises, it also has classrooms and office space for Cornish College.
Historic Renovation: Muse Whiskey and Coffee Bar. Up at the Port of Everett's ongoing Waterfront Place development, this new watering hole debuted this summer in the century-old Weyerhaeuser Building. Eric Richmond of Flat Rock Productions was the architect, and Graham Construction the builder. Schuster Group helped plan the project.
Hospitality Development: Cantina Monarca Mexican Restaurant and Tequila Lounge. Over in Bellevue, this new eatery is at Lincoln Square South, having opened last December. Ferguson Architecture and Bayley Construction put the project together, working with Gulla Jonsdottir Design, who did the interiors.
Industrial Speculative Development: 65 Horton. Acting as builder and developer, Ryan Cos. opened this four-story, 140,312-square-foot SoDo project this past summer. Nelson was the builder, and CBRE's Andrew Stark and Zac Snedeker are representing the space.
Mixed-Use Development: Marina Square. Over in Bremerton, this came from Sound West Group (see below).
Multifamily Residential (fewer than 100 units): Eight One Hundred, aka 100 & Main. This very boutique, very bespoke 10-unit condominium in Old Bellevue came from Compton Design Office, JTM Construction and developer Paramount Hotels. All 10 residential units sold in September for a total of $47 million. You do the math.
Multifamily Residential Suburban (over 100 units): Alexan Alderwood. Near the future light rail station, this project from Trammell Crow Residential has about 383 units. Strouse Davis Architecture designed the midrise building, with Exxel Pacific as general contractor.
Multifamily Residential Urban (over 100 units): Alta Arlo. Wood Partners worked with Johnston Architects and builder Exxel Pacific on this 243-unit project in the heart of Columbia City, which is mere steps from the PCC and other familiar shops.
Office Development: 555 Tower. From Vulcan Real Estate, this high rise was leased by Amazon three years ago, after construction had begun. (Turner was the builder, and NBBJ the architect.) The tallest building in Bellevue topped out in September, and will have some 967,500 square feet of offices. How much Amazon will occupy remains to be seen.
Office Interior: Bungie Headquarters. Unico Properties oversaw a major refresh of the tired old mixed-use Bellevue Connection, beginning about a year ago. Video game developer Bungie was already a tenant, and has been steadily increasing its presence there. Its new HQ was designed by NBBJ, and built by Turner.
Redevelopment/Renovation: 760 Aloha. Once a two-story industrial complex that began life in 1931 near South Lake Union, the new addition project is now a handsome six-story, 40,968-square-foot boutique office building. It opened this summer, with Newmark representing the space. Developer Nitze-Stagen worked with architect BuildingWork and contractor R Miller on 760 Aloha.
Sustainable Development: 400 Westlake. Everybody loves this project, aka the landmarked old Firestone Building in South Lake Union. Perkins + Will designed the modern 16-story office tower that was created from within the old shell. Lease Crutcher Lewis built 400 Westlake for Martin Selig Real Estate — which is, for now, acting as its own broker.
TOP AWARDS
Alexan Alderwood Apartments
Multi-Family Residential Suburban Development of the Year (More than 100 Units)
Multi-Family Residential Suburban Development of the Year (More than 100 Units)
Alta Arlo Mixed-Use
Multi-Family Residential Urban Development of the Year (More than 100 Units)
Multi-Family Residential Urban Development of the Year (More than 100 Units)
Eight One Hundred Bellevue
Multi-Family Residential Development of the Year (Fewer than 100 Units)
Multi-Family Residential Development of the Year (Fewer than 100 Units)
The Ivey on Boren
High-Rise Residential Development of the Year
High-Rise Residential Development of the Year
Developer of the Year: Sound West Group. The company, led by Wes Larson, is based in Bremerton, where its new trophy development is Marina Square, but it works on both sides of the pond. Encore Architects and Compass Construction aided the effort on Marina Square, which overlooks the marina and Sinclair Inlet. It has 270 apartments in two buildings, retail and restaurant space, and lots of parking — some for the marina, too.
Deal of the Year: 2323 Elliott. It has been a dreadful year, and more, for office leasing in our post-pandemic climate. But Colliers found a tenant this summer for all 74,722 square feet: Insight Global. (The prior occupant had been the Art Institute of Seattle.) Landlord Unico Properties had gut-renovated the empty building, working with B+H Architects and general contractor NorthStar. Unico's Liz Thorson worked on the lease with the Colliers team of Jeff Jeremiah, Leigh Callaghan, Jodi Selvey and Meredith Selvey. Insight Global is a staffing agency and recruiting service provider.
Judges' Community Impact Award: Ethiopian Village. Environmental Works designed this new 90-unit project in the Rainier Valey, which includes a 5,000-square-foot community space, cafe, lounge area and other amenities. Walsh Construction was the builder, in collaboration with Ethiopian Community of Seattle, HumanGood and Beacon Development Group
Judges' Innovation Award: Microsoft Thermal Energy Center (aka the TEC). This is part of the ongoing Microsoft campus refresh in Redmond. Designed by NBBJ and built by GLY, it features 900 geothermal wells and 220 miles of pipe to help heat and cool the new buildings, thereby cutting energy use by about 50% compared to traditional utility plants.
Judges' Choice: Best in Class Development: The Jack. We agree! The best new thing on the waterfront, steps from the DJC office, is this alluring office project from Urban Visions, architect Olson Kundig and JTM Construction. If you haven't already toured the eight-story, 145,500-square-foot project, do. (That roof deck is to die for!) JLL is representing the space. Somebody please lease it! The waterfront needs your help!
People's Choice Award: CBRE Workplace360, aka the firm's nice new downtown offices at U.S. Bank Center. CBRE announced last year that it would reduce its footprint and relocate to the 38th and 39th floors, taking about 42,000 square feet. HITT Contracting built the space, with CBRE acting as its own designer. Anywhere from 200 to 300 people can be there at one time, in an acknowledgement that work-from-home is here to stay. Oh, the irony.
Brian Miller can be
reached by email at brian.miller@djc.com or by phone at (206) 219-6517.