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People & Companies

Dec 01, 2022

JLL lands $109M for 35 Stone start

As the DJC reported last month, the initial office portion of Campus Seattle, dubbed 35 Stone, recently began construction in Fremont. (Sellen is building that for Evolution Projects, with Weber Thompson as the architect.) The DJC reported an $81.7 million construction loan from Union Labor Life Insurance (aka Ullico). But JLL said this week that the entire loan package amounted to $109 million, with funds also from Canyon Partners Real Estate. JLL's Kaden Eichmeier and Bruce Ganong secured the money. Eichmeier said in a statement, “Fremont is a top destination for Seattle's millennial population, which has in turn drawn many top companies to the neighborhood.” JLL is also brokering space in the building, set to open in 2024, and announced that Brooks Running will take an undisclosed amount of space there. Brooks has its retail store on the nearby high-profile corner of Stone Way North and North 34th Street; that's unlikely to move. As of 2012, Brooks had about 114,000 square feet for its headquarters in Skanska's Stone34 building, above the store. Brooks hasn't announced that it's moving, so the new lease seems to represent an expansion one block north. Representing Brooks in the lease were Brian Kelly and Eric Lonergan of Savills.

ULI holiday party!

Our local ULI chapter's annual holiday gathering is set for Tuesday, Dec. 13, at the downtown headquarters of CallisonRTKL. The gathering starts at 5 p.m. Details and registration: northwest.uli.org.

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