Mar 04, 2021
Vulcan Real Estate announced that restaurant Simply Soulful will join its tenant roster in the new Jackson Apartments, at 2401 S. Jackson St. Residents are already moving into the 532-unit corner development. By this summer, they'll have a new place to eat, too. Co-owner Lillian Rambus said in a statement, “The southeast corner of 23rd Avenue South and South Jackson Street has a unique history and connection to the city's Black community for decades. We consider it a privilege to carry on the neighborhood's cultural legacy through our family's traditions and recipes.” She with fellow owner Barbara Collins will spin off the restaurant from their successful Simply Soulful Pies & Catering business. Their new eatery will feature what they call a home-cooked, farm-to-table experience using organic ingredients procured from local vendors including Alm Hill Farm, Falls Brand, Olsen Farms, Kirsop Farms and One Leaf Farm. Meanwhile, Amazon Fresh recently filed plans with the city that indicate it'll open as the anchor grocery tenant in early May.
Seattle Housing Authority recently named Charles (Chuck) Lind as its new general counsel. The veteran attorney makes the move from Patterson Buchanan Fobes & Leitch. He also has prior experience working for King County. SHA's Andrew Lofton said in a statement, “Chuck has 30 years of legal experience and has worked extensively with public entity law, federal and state regulation, governing boards, commissions and executive officers in charge of agencies.” Lind says that his mother and father once lived in SHA housing. His predecessor, James Fearn, recently retired.
Laird Norton, which has real estate interests and arms including Heartland, recently announced that its Brian McGuigan is now executive vice president of enterprise strategy and corporate development. He'll also become a member of the real estate committee that oversees Heartland and other property investments. Company CEO Jeff Vincent said in a statement, “When Brian joined the company in 2012, we intuitively knew that he had significant growth potential. It has been extremely satisfying over the past nine years to see him live up to that potential both professionally and personally.”
KeyBank Real Estate Capital says that it recently secured a $13.2 million refinancing loan via the U.S. Department of Housing and Urban Development for Shelter Holdings' fairly new Metroline Flats. Katie Plett and Marguerite Moyet led that effort for the bank. The loan, which benefits from HUD's Green Mortgage Insurance Premium reduction program, carries a fully amortizing 35-year term. The seven-story, 75-unit development opened about two years ago at 915 E. Spruce St., a little east of Yesler Terrace. Johnston Architects designed the project, which Shelter built through a subsidiary.
Feb 25, 2021
The first phase of Trailside, with 265 partly furnished units intended for students (with 762 beds), is nearing completion at 4801 24th Ave. N.E., immediately east of the Burke-Gilman Trial and near University Village. Now Peak Campus has announced that it will operate the midrise complex for developer Phoenix Property Co. Pre-leasing has begun for fall occupancy, Peak said in a statement. Peak COO Casey Petersen said, “We are thrilled to have been given the opportunity to help bring this fantastic project to life for the University of Washington community.” Features will include stainless steel appliances, quartz countertops, in-unit washer and dryers, high-speed Internet, gym, study lounges, game rooms, golf simulator and 10,000-square-foot rooftop lounge. Construction began in July 2019 under Walsh Group, and Weber Thompson was the architect. Phoenix, which is ground leasing the land from Trinity Partnership, is also planning Phase II, immediately to the north, with the same architect and contractor. That seven-story building will have 171 units.
b>Dwight Capital announced that its Josh Sasouness arranged a nearly $55 million bridge loan for the 243-unit U Place, which was completed last fall at 4609 Union Bay Place N.E., just east of University Village. The project was initially announced as condominiums in 2016, then switched its program and general contractor before breaking ground circa 2018. DLR Group was the architect for the six-story building, and Venture was the general contractor. The developer was Bellevue firm ZQH Investments. The ground-floor retail space, with 19,450 square feet, was originally to be a food hall. It's not clear who's leasing that space for ZQH.
MainStreet Property Group sold the 139-unit Bond apartments last fall for almost $66 million, with leasing still underway. The buyer of the midrise project, near Marymoor Park, was an LLC related to G.W. Williams Co., of the Bay Area, which is quite active in Redmond. G.W. Williams took legal possession last month via a 1031 exchange, with Walker & Dunlap arranging an over $33 million loan from Fannie Mae. Now Highland Realty Capital, based in the greater Los Angeles area, has separately announced that it secured a nearly $43 million loan from an unnamed lender. King County didn't record that transaction, but that raises the overall property value to about $76 million.
Ramon Murillo and Juan Mendoza have moved their residential brokerage over to Keller Williams, the latter firm announced. During the past two years, they closed 25 deals worth over $10.7 million. KW CEO Angie Mykel said in a statement, “We are ecstatic to have Ramon and Juan join us.” Murillo added, “We want to continue to grow our real estate business, and Keller Williams provides the training and technology that will help us reach our goals.”
Every year, Kidder Mathews honors its top-five producers with its Platinum Awards. In first place was Gregg Domanico, who's based in the Bay Area. However, there were three locals among the top five: Todd Clarke, who focuses on the industrial market; Chris Moe, whose practice includes the office sector and life sciences tenant advisory; and investment specialist Dave Speers.
Pacific Program Management, based here in Seattle, announced three recent hires. Two are in San Francisco and Washington, D.C. But joining the local office as a director is Scott Bastiani, who makes the move from Katerra. The industry veteran will provide construction and design support, and lead some projects. PPM also said that its Briana Zajac has been promoted to director as well. Her area of practice has included what PPM calls supporting transition and relocation services serving “a major online retailer.” Twelve-year-old PPM's three service lines are workspace consulting, capital project management and transition/relocation services. Founder and CEO Clark Lindsay said in a statement, “I am excited to bring strong leadership to our expanding geographic markets of the caliber and talent these new additions bring to the team.”
Lee & Assoc. announced that three experienced brokers have moved from CBRE to its Tacoma office. They are John Bauder, Harrison Laird and Yeh-Hee Hahn. In a statement, Laird said of his new home, “They have a strong, national platform with a tailored, boutique approach in each market. We feel that this move will provide us an opportunity to better serve our clients.” Lee has been our market since January 2017, starting with three brokers; it now has 38 in three offices. Lee's regional president Jim Bowles said in a statement, “Bauder, Laird and Hahn's real estate careers have helped shape the office, retail, and investment markets in the South Sound. The three brokers will really help to round out our team of veteran brokers in Lee's Tacoma office.”
The Village at Totem Lake announced the addition of Mayweather Boxing + Fitness, Taiwanese tea chain Don't Yell at Me, and Bok a Bok Fried Chicken to its tenant roster. Also expected to open for business in the first quarter are hair salon Madison Reed and bedding store Sleep Number. CenterCal's Paul Brett said in a statement, “In addition to being a convenient place to live, work, shop and eat, now you can add ‘getting in a great work-out' to the list!” The gym, of course, bears the name of boxing great Floyd Mayweather. The entire mixed-use makeover of the old 26-acre mall is nearing completion. CenterCal's partners are Fairfield Residential, Trinsic Residential Group and Pacific Coast Capital. The three apartment buildings, with 852 units, are opening in phases: Aura and North are leasing now; and the 406-unit Aspect is expected to open this summer. The Cinemark multiplex is expected to open with limited seating this spring.