Oct 26, 2017

Dermody buys Lacey corporate park

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Meridian Campus Corporate Park

Dermody Properties has acquired Meridian Campus Corporate Park in Lacey. Terms were not disclosed. California State Teachers' Retirement System sold the 18-acre park, which has three buildings totaling 459,551 square feet. Dermody will develop a new distribution building there with 318,028 square feet. Construction is expected to begin next month. CBRE's Monte Decker and Andrew Hitchcock will market the property. In a statement, Dermody's Doug Kiersey said, “The region's consumer demand, labor pool, transportation infrastructure and local corporate stalwarts such as Microsoft, Google, Costco, Nordstrom and Boeing make it a highly desirable industrial market. The industrial park's proximity to the Seattle and Portland markets will attract customers in need of Class A, regional distribution centers.” Bellevue-based Dermody has over 70 million square feet of industrial space nationwide.

Heeter joins SIOR board

Heeter

Kidder Mathews said vice president and partner Kraig M. Heeter has joined Society of Industrial and Office Realtors Foundation board of trustees for a three-year term. Heeter specializes in the industrial market, often in the Kent Valley. Past clients have included, Weyerhaeuser, PacTrust, RREEF and Walgreens.

Wattula moves to HPP

Wattula

Hudson Pacific Propertieshas hired Andy Wattula, formerly with Beacon Capital Partners, as senior vice president. He will lead HPP's operations in the Pacific Northwest. In a statement, HPP's Victor Coleman said, “Andy Wattula has worked in the Seattle real estate community for more than a decade and understands this dynamic market. The strength of the Seattle economy continues to create new, long-term opportunities for Hudson Pacific, and Andy's experience and leadership will play a key role as we continue to expand in the region.” Wattula also worked at Hines and served in the Navy. HPP is a REIT with over 18 million square feet in its U.S. portfolio. Locally, it recently completed 450 Alaskan, which is half leased to Saltchuk Resources. The building is part of HPP's King Street Crossing, which includes six nearby buildings totaling 665,376 square feet.

Oct 19, 2017

New president at RISE Properties

Sigmund

Canadian REIT RISE Properties Trust named Barrett Sigmund as its new president. He moves from Security Properties. Sigmund said he is “excited to help RISE become more active from a transactional perspective, while growing its presence in the Pacific Northwest.” RISE focuses on the Puget Sound area. Local holdings include the former officers' residences at Fort Lawton, Bentley House in Issaquah and Northline Apartments in Seattle.

6 Friends of Housing named

Washington State Housing Finance Commission has named six new “Friends of Housing.” They are: State Rep. Joan McBride; HomeStreet Bank's Dianne Wasson; Marty Kooistra, executive director of Housing Development Consortium of Seattle King County; SMR Architects; Spokane Housing Authority executive director Pamela Tietz; and Alison Dean and Jennifer Staplin of apartment manager HNN Associates. The Margaret M. Sevy Lifetime Achievement Award went to Seattle attorney Deborah Winter of Foster Pepper.

Bentall Kennedy, Warba buy in Colorado

The Canadian advisory firm Bentall Kennedy, which has an office in Seattle, bought a new seven-story, 223,000-square-foot office building in Englewood, Colorado, on behalf of Warba Bank K.S.C.P. in Kuwait. The Class A building is next to a light rail station. Terms weren't announced. The building is leased to Arrow Electronics.

Smith Tower CREW social Nov. 2

CREW will hold a happy hour atop Smith Tower on Thursday, Nov. 2. You can come early for a tour, starting in the lobby at 4 p.m., or arrive later at the observatory level for drinks, from 5-6 p.m. Registration and info: crewnetwork.org. And in case you've forgotten the iconic building's location: 506 Second Ave. in Pioneer Square.