Dec 13, 2018
Port 106 Interbay is a joint venture between Ariel Development and Kauri Investments.
Port 106 Interbay, a 119,264-square-foot retail center being developed at 1600 W. Armory Way in Seattle is now 55 percent leased, according to Susie Detmer and Stacy Reid of CBRE's Seattle office. They represent the owners, Port 106 LLC, which is a joint venture between Ariel Development and Kauri Investments. Port 106 purchased the property from the city in 2006. Construction will begin soon on the final 25,000-square-foot building and an additional 11,000 square feet of shops, which will open in a year. Current tenants include Michaels and Total Wine. Bright Horizons Early Education and Preschool is under construction and opens early next year. Kent Angier of Kauri Investments said he thinks the neighborhood is like South Lake Union was 15 years ago and he expects to see a similar transformation.
Cascade Sotheby's International Realty has acquired Park Place Real Estate in Portland. Park Place was formed in 2004 by Steve and Evelyn Rosling, a husband and wife team who now have a team of 25 brokers. Park Place Real Estate closed about $120 million in sales this year. Cascade Sotheby's International Realty has 11 locations in Oregon and southern Washington.
Portland-based Templeton Property Management named Christopher Koegel president of property management. Koegel worked for Trammell Crow, Riverstone Residential Group, BRE Properties, Madrona Ridge Residential and HNN Associates. He will be in charge of a four million-square-foot portfolio as the firm prepares to expand in the Northwest and Southern California. Templeton is part of NBP Capital, a privately-held West Coast commercial real estate fund with $1 billion in assets under management. NBP Capital said it has one million square feet of construction in progress, 60 properties owned or managed, and 110,000 square feet under renovation.