Apr 22, 2004

Wright Runstad & Co.

Tomey

Valarie Tomey has joined Wright Runstad & Co., as vice president. She replaces Carol Thomas, general manager of the Washington Mutual Tower and the Galland and Seneca buildings, who retired after 18 years. Tomey most recently worked for Sage Real Estate Strategies. She will oversee operations for Wright Runstad properties in Seattle, Portland and Boise.

Lorig Management Services

Turner

Heidi Turner, president of the Western Washington chapter of the Institute of Real Estate Management, joined Lorig Management Services as a residential property manager. She oversees collegiate properties at the University of Washington and Seattle Pacific University, and she is responsible for two senior housing properties. Lorig Management Services is an affiliate of developer Lorig Associates.

Wolfgang Rood Hospitality

Bellevue-based Wolfgang Rood Hospitality Consulting reports hotel occupancy improved in most Washington markets in February. Downtown Seattle's occupancy jumped nearly 11 percent from February 2003, Snohomish County's increased almost 12 percent, and Pierce County and the Eastside's increased 4 and 2 percent, respectively. The increases occurred as the average daily room rates went up. Seattle's average rate now is just under $120.

PREP

Pacific Real Estate Partners' Scott Carter reports the number of vacant South End industrial spaces over 100,000 square feet decreased 20 percent since the end of 2003. It was the third consecutive decrease in as many quarters, according to Carter, who issues a quarterly report called Valley Watch. In South King and Pierce counties, there were 33 users actively seeking spaces of at least 50,000 square feet. Together, that demand totals nearly 5.4 million feet. The median asking shell rental rate dropped 1.4 percent during the quarter.

Grubb & Ellis

Grubb & Ellis has leased nearly 7,000 square feet of space at Two Union Square and plans to add up to 15 brokers over the next two years, says Craig E. Hill, sales manager and vice president. Hill recently hired two office brokers, Brad Chadek and Brent Miller. James Keating of Grubb & Ellis negotiated the deal with Washington Holdings' Arne Gillam, who represented the landlord, Union Square LLC. Grubb & Ellis will maintain a presence in Bellevue at Skyline Office Tower.

The Housing Partnership

The Housing Partnership, an affordable housing nonprofit, has launched Community Housing Strategies: Market Innovation, Local Choice. The program studies a single market, and the research is used to hammer out a housing strategy the group hopes will work for builders and the community. The partnership is seeking local jurisdictions to participate. For information, contact Michael Luis at (425) 453-5123 or mluis@seanet.com.

Windermere

Bright

Gunnels

Heidi Bright and Bruce Gunnels, who operate as BigDogRealty.com, have left Coldwell Banker Bain to join Windermere Real Estate/East in the Kirkland-Yarrow Bay office. They specialize in luxury homes and waterfront properties. Joining them at Windermere is Jessica McGinnis, a licensed Realtor and BigDogRealty.com business manager.

Miller Torgerson and Associates

Miller

Miller Torgerson and Associates, the condo sales and marketing division of Coldwell Banker Bain Associates, has changed its name to Miller Condominium Marketing. This reflects the end of a three-year transition from ownership by Faye Torgerson to Michael Miller in anticipation of her retirement from real estate industry. The company's Web address has changed to www.mcmcondos.com.

American Home Equity Mortgage

After eight months in the Seattle market, American Home Equity Mortgage has opened a second branch in Bellevue at 3055 112th Ave. N.E. Nigel J. Tabbert will manage the branch. The company, an affiliate of St. Louis-based American Equity Mortgage, specializes in debt consolidation, using home equity to combine bills into one payment.

Seattle Mortgage Bankers Association

Stephen O'Connon, vice president of the Mortgage Bankers of America, will be the guest at the Seattle Mortgage Bankers Association's 2004 Auction and Presentation at 5:30 p.m. April 27. The joint meeting with the Washington Mortgage Lenders Association will be at Broadmoor Golf Club. Cost is $33 for members and $45 for nonmembers. For details, call Michelle Ward at (425) 739-3027 or write michelle.ward@suntrust.com.

NAIOP breakfast meeting

Puget Sound Regional Council Executive Director Bob Drewel will speak at NAIOP's breakfast meeting at 7 a.m. April 29 at the Washington State Convention & Trade Center in downtown Seattle. Cost is $30 for members and $45 for nonmembers. For reservations, call (206) 382-9121 or see www.naiopwa.org.

Real Estate Association of Puget Sound

Author and real estate developer Scott Rister of Dallas, who once closed 72 transactions in nine months, will speak at two Real Estate Association of Puget Sound events next week. The first is REAPS' monthly meeting at 7 p.m. April 28. (Free for REAPS members, $15 for nonmembers). He also will speak at a seminar, "Finding Motivated Sellers -- A Proven System for Real Estate Investors," at 9 a.m. May 1. ($45 for REAPS members, $69 for nonmembers). Call (425) 458-4797 for information or register at the Events section of www.reapsweb.com.