Jun 13, 2019

Hudson Pacific lands fashion startup at King Street Crossing

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505 First building

The local subscription-based fashion rental startup Armoire has leased a long-vacant, triangular 7,500-square-foot space in the 505 First building, part of Hudson Pacific Properties' King Street Crossing complex. The floor-through space also fronts along Alaskan Way South, which will be removed from the shadows when Kiewit and Ferma finish demolishing the viaduct this fall. HPP told the DJC this spring that the retail at 505 First Ave. S., a building originally developed for Starbucks (which never occupied it), had been vacant for a decade. Erika Koehler and Anne Marie Koehler, then with JLL, were the brokers representing HPP. Three-year-old Armoire, led by CEO Ambika Singh, rents women's clothing to monthly subscribers (starting at $149 per month) and supplies fashion recommendations by algorithm. The 505 First building is sometimes still identified with longtime tenant EMC, now Dell EMC.

Jun 06, 2019

KM receives magazine honor

Lyon

Seattle-founded Kidder Mathews, about to turn 50, was recently named a fastest-growing private company in the U.S. by Inc. 5000 Magazine. CEO Jeff Lyon said in a statement, “All of the awards are nice and we are competitive, so that helps get us in the door to have a further conversation about why a top performer should come join Kidder Mathews.”

KM also said in a release that it has revamped its website, kidder.com. It's the largest commercial real estate firm on the West Coast, with 22 offices and over 800 employees. KM says it performs $9 billion in transactions, manages over 53 million square feet of space, and conducts over 1,600 appraisals annually.

SeaLevel opens 110 units in Issaquah

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SeaLevel Properties announced the opening of its 110-unit Vale Apartments at 955 Seventh Ave. N.W. in downtown Issaquah. Units are already 60% pre-leased. SeaLevel broke ground on the five-story building in 2017, with Exxel Pacific as its general contractor. Grouparchitect designed it.

The 108,000-square-foot project has units running from one-bedroom to townhouse units. Amenities include two rooftop decks with an outdoor barbecue; pea patch and outdoor fire place; an indoor lounge with gourmet kitchen; a large bike room with work station; and a fitness center. The building has one level of structured parking.

Colliers adds to asset management team

Glossip

Colliers announced the hiring of industry veteran Tory Glossip, who becomes managing director of its Real Estate Management Services. She makes the move from Madison Marquette, where Pacific Place and the Bellevue Collection were in her 1.9 million-square-foot portfolio.

Colliers' Tim Allison said in a statement, “Her understanding of the goals of institutional owners and successful application of best practices and technologies ensures the further elevation of an already strong service in one of the country's most rapidly growing markets.”

Said Glossip, “I am excited to join the growing Colliers team because of the fantastic depth of platform, reputation in the industry and overall bench strength.”

Port 106 Interbay lands HomeGoods

The retail center known as Port 106 Interbay, being developed in phases by Ariel Development and Kauri Investments, has a major new tenant. CBRE's Susie Detmer and Stacy Reid are the leasing agents for those owners.

Plans have been filed by HomeGoods for about 25,000 square feet at the 7.7-acre complex at 1550 W. Armory Way and related addresses, all of which are west of 15th Avenue West, near Whole Foods.

B&T Design & Engineering of Issaquah is in charge of the tenant improvement project. Kauri affiliate K Contracting will build out the space.

Other tenants in the 119,300-square-foot center include Michaels, Total Wine and Bright Horizons. As of last December, Kauri said it was 55 percent leased.

HomeGoods is a discount furniture and home decor retailer that's part of the publicly traded TJX Companies group, which also includes T.J. Maxx and Marshalls among its brands. The group has over 4,300 stores in nine countries, and reported $39 billion in revenues last year. There are HomeGoods stores in Bellevue, Bellingham and about a dozen other state locations. Interbay will be its first Seattle location.