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November 7, 2024
NAIOP's Night of the Stars: Let's recap the winners!
By BRIAN MILLER
Real Estate Editor
Real Estate Editor
Fun fact: A new building doesn't have to be 100% completed this year, just mostly done, for consideration in NAIOP Washington's annual Night of the Stars awards. (Or it could be finished by the middle of last year.) Those honors were bestowed this past Friday at the Hyatt Regency Bellevue. Industry experts made the final decisions from the prior nominations of NAIOP members (many DJC readers among them). And there are a few special categories, too.
So, below, let's recap the special awards, people and projects. See NAIOP's own dedicated website (https://tinyurl.com/NAIOP2024Stars) for all the nominees and winners.
AWARDS
Hall of Fame Inductee: Long associated with Harsch Investment Properties (and previously CBRE and Colliers), Rob Aigner began his career on the Eastside in 1980. He's also served as a past state chapter president for NAIOP. Now retired from Harsch, he's hung out his shingle as a consultant. He also has a longtime association with the University of Washington's Runstad Department of Real Estate.
Developer of the Year: Vulcan Real Estate. Its entire portfolio was cited, with projects including Lake Union Piers, West Main in Bellevue, the new 261-unit Wayfarer at Yesler Terrace and the Amazon-occupied 555 Tower (aka Sonic), the tallest building in Bellevue. NAIOP cites its “market leadership in sustainability and diversity, and nimbleness in changing market conditions.” Its longtime leader is Ada M. Healey.
Deal of the Year: Don't be fooled by the name. Bridge Point I-5 Seattle is actually in Milton, down south in Pierce County, and not in Seattle. Building 1 is the largest and first of a quartet of new industrial buildings from Bridge. Kidder Mathews recently landed Boeing as the tenant for about 1 million square feet at Building 1. Three more planned buildings offer about the same amount of space. Kidder's Mike Newton, Todd Clarke, Kraig Heeter and Dane Dahline are the brokers.
PEOPLE
Multifamily Broker: Eli Hanacek of CBRE. He and colleagues recently sold Sky Sammamish for over $70 million. They're also poised to sell a vacant old Microsoft building, to be razed for 641 new units in Redmond.
Investment Broker: Brett Hartzell, also of CBRE. Among his current listings is a Tesla-leased building in Renton. He's had his hand in many, many other recent deals.
Industrial Broker: Matt McGregor from Colliers. He and his team were part of an October sale in Kent that was worth over $47 million. And he had a hand in Frederickson One, per below.
Office Broker: Michael Dash from CBRE. With colleagues, he recently helped put Pinterest into Met Park East.
Rising Star Broker: Sam Dommer of JLL. Among his current listings are space at Lincoln Square South in Bellevue, 1201 Third in downtown Seattle and Key Center in Bellevue.
Retail Broker: Tiffini Connell of West Coast Commercial Realty. She and her team landed Trader Joe's at the new Hemlock in Greenwood, from Washington Holdings (see below).
Judges' Choice: Katrin Gist of CBRE. A lawyer and specialist in airport real estate, she's worked closely with Boeing, the FAA and many airports and their lessees. She's also a regular presence in national media.
PROJECTS
Avalon Bothell Commons
Multifamily Residential Suburban Development of the Year: More than 100 Units
Multifamily Residential Suburban Development of the Year: More than 100 Units
Affordable Housing Development: John Fox Place, in North Seattle, was developed by the Low Income Housing Institute. Built by Exxel Pacific, with Pyatok Architects and Hewitt as the designers, it opened its 104 units this spring.
Community Impact Award: Station Space. This is the new arts space within the historic King Street Station. It was designed by Side x Side Architects (formerly SKL Architects) and built by Sellen. Five nonprofits have a rent-free lease with a 60-year term.
High-Rise Residential Development: The 45-story Ayer, from Holland Partner Group, opened its 430 units in February. Holland built the Denny Triangle tower, with Weber Thompson as the architect.
Historic Renovation: The Washington Park Building. This refurbished, 134-year-old waterfront gem is still in search of tenants. (Ask Broderick Group if you're interested. Please!) W.G. Clark Construction, Lake Union Partners and architect BuildingWork were in charge of the redo for Unico Properties and Pinnacle Partners.
Hospitality Development: 7 Seas Waterfront Taproom. This one's down in Gig Harbor, if you haven't been. Ferguson Architecture and Washington Patriot Construction did the work for Horsehead Investments. It overlooks the harbor itself, a little north of the Tacoma Narrows Bridge. So, worth the drive. The two-story building has 6,000 square feet, outdoor seating and dozens of taps. This is its second location, after Tacoma, so can a Seattle branch be far behind?
Industrial Speculative Development: Frederickson One, Buildings 4 and 7, in Spanaway. Boeing took these two buildings at the end of last year. Logistics Property Company worked with Colliers' Matt McGregor and Bill Condon to lease the duo, with about 845,618 square feet. Nelson was the architect, and Poe the builder. All six buildings are to have some 3 million square feet.
Mixed-Use Development: Siteline, from the Wright family and MainStreet Property Group, opened its 214 units this past January on the east side of Seattle Center. It also has offices for the Wrights' Space Needle operations. GenCap Construction and Encore Architects aided in the effort.
Multifamily Residential (fewer than 100 units): J.G. Whittier's 54 units opened late last year at 7750 15th Ave. N.W. in Ballard. Johnston Architects designed the four-story project, which was purchased by a local family before BMDC Services (formerly Belotti + McHugh) began construction.
Multifamily Residential Suburban (over 100 units): Avalon Bothell Commons. Once the site of the Seattle Times printing plant in North Creek, this phased development now has about 467 units, including townhouse rentals, and commercial space. (The final unit tally will reach around 800.) GGLO designed the project for builder/developer AvalonBay Communities.
Multifamily Residential Urban (over 100 units): Hemlock, from Washington Holdings, opened its 293 units late last year. It replaced an old Safeway, and will become home to a new Trader Joe's. GGLO was the architect, and W.G. Clark the builder.
Office Development: Northlake Commons. Everyone loves this handsome, mostly mass-timber project on the Dunn Lumber campus, next to the Burke-Gilman Trail. The project was a venture of the Dunn family, Hess Callahan Grey Group and Spear Street Capital. Weber Thompson designed the 275,000-square-foot project, built by Swinerton, which now counts the Allen Institute for AI and the Wayland Mill restaurant as tenants.
Office Interior: Riot Games Remote Broadcast Center. Riot Games has its headquarters on Mercer Island, in the former Farmers Insurance building. Its new e-sports broadcast center (RBC) is in an industrial building in north Des Moines that was radically revamped by Irish architect Henry J. Lyons and local firm Fi Architecture, working with Abbott Construction and owner's rep LPC West. A new cross-laminated timber mezzanine contributes to 73,000 square feet of high-tech studios, offices and lounge areas.
Redevelopment/Renovation: U.S. Bank Center, aka Cedar Hall, which SkB Architects and Andersen Construction comprehensively refreshed on three levels totaling nearly 155,000 square feet. (Some will recall the old branding for the EQ Office-owned tower, at 1420 Fifth Ave., as Pacific First Centre.) Today it boasts public art, including work by Dale Chihuly, Olympic Coffee, a Jimmy Johns, Sushi Kudasai and a planned Italian eatery from the owners of Il Terrazzo Carmine, to open next year.
Sustainable Development: The Microsoft East Campus Modernization spans some 72 acres, with seven new buildings now open (and more coming) and a total project size of well over 2 billion square feet. The yearslong project, with a long list of builders and architects attached, is meant to be a very green and low-carbon operation. (Microsoft's Thermal Energy Center, with its thermal wells, also received a NAIOP nod last year.) It's also very transit-friendly, connecting to Redmond Technology Station, and pedestrian-friendly, with a new canopy-topped bridge across the freeway to the West Campus.
Judges' Choice, Senior Living Development of the Year: Aegis Living Laurelhurst. Near Five Corners, Ankrom Moisan designed the campus Gothic style-building to resemble the UW campus. Exxel Pacific built the six-story, 136-unit project, which opened in May.
Judges' Choice, Icon Award: Seattle Storm Center for Basketball Performance. This Interbay office and practice facility opened in April. Sellen built the two-story, 53,000-square-foot project, which was designed by ZGF Architects and Shive-Hattery Architects of Indiana. Beyond the hardwood courts, it features locker rooms, a players' lounge, a strength and conditioning center, training and treatment spaces, hot and cold plunge pools and recovery spaces.
People's Choice Award: Wesley Des Moines Redevelopment. Initially developed on about 42 acres in the 1940s, this affordable senior community has since seen additions into the 2000s. About a decade ago, there began a new round of phased renovations, selective demolition and several new buildings. The effort was led by InSite Architects, Walsh Construction, Edge Construction and developer Senior Housing Partners. (Owner Wesley Homes, a faith-based nonprofit, is based in Kent. Developer Senior Housing Partners is based in Minnesota.) Walsh rates the three-phase project at over 608,000 square feet of new construction.
Brian Miller can be
reached by email at brian.miller@djc.com or by phone at (206) 219-6517.