Dec 17, 2015

Davis finishing flex building in DuPont

[enlarge]

Davis Property & Investment said in January it will complete a 36,240-square-foot industrial flex building at 2750 Williamson Place N.W. in DuPont. The building is part of the Center Plaza project, which will have approximately 180,000 square feet in six buildings within the 3,000-acre Northwest Landing campus. The campus is directly across from Intel and neighboring tenants include Amazon, FedEx, Dania and Pier 1 Imports. Ronhovde Architects designed the building, and Adolfson & Peterson Construction is the general contractor.

Coombs first NAI president

Coombs

NAI Puget Sound Properties hired Scott Coombs to be its new president. Coombs comes from Colliers International, where he was northwest regional managing director. Coombs is NAI's first president. Previously an executive committee of brokers and principals at NAI shared leadership duties. Coombs will be responsible for day-to-day operations and recruiting brokers. NAI is based in Bellevue and says it is the fifth largest commercial real estate brokerage in the region with 45 brokers.

8 Fort Lawton houses sold or under contract

Realogics Sotheby's International Realty has sold or secured contracts for eight of 13 historic houses in the Montana Circle portion of The Homes at Fort Lawton. Rise Properties Trust, a Canadian real estate investment trust, bought 26 former military houses within Discovery Park in February for $9.5 million. Rise is renovating the houses and making them available to civilians for the first time. The houses are in two neighborhoods: Montana Circle and Officers' Row. Montana Circle was built for non-commissioned officers, and houses in Officers' Row are significantly larger and were designed for entertaining. According to a release from Realogics, there are five houses remaining in the Montana Circle neighborhood that have yet to be renovated. Four of them are available for presales, Realogics said. Two 1,675-square-foot, two-bedroom, two-and-a-half bathroom houses start in the low $800,000s. Two 1,995-square-foot brick houses with three bedrooms and two-and-a-half bathrooms start in the mid $900,000s.

Red Lion opens in Bothell

[enlarge]

Red Lion Inn & Suites Bothell at 3850 Monte Villa Pkwy. is open. Spokane-based Red Lion Hotels Corp. said the hotel rooms are all suites with kitchenettes and living spaces. The hotel offers free WiFi and breakfast, and there is an indoor pool and gym. Red Lion was established in 1959 and has about 125 hotels in its system.

Dec 10, 2015

Peterson, Ricci join Wallace Properties

Ricci

Peterson

Wallace Properties hired Erik Peterson and Stefan Ricci. Peterson will be an associate vice president focused on multifamily and mixed-use investment properties. Ricci will be an associate. Peterson has more than eight years of experience in commercial real estate. Prior to becoming a broker he developed projects in the United Kingdom and Dubai. Wallace Properties was founded more than 35 years ago, and offers brokerage, investment, development, property and asset management services.

NAIOP topic: Fred Hutch and SLU

The Washington chapter of NAIOP will look at Fred Hutchinson Cancer Research Center's move to South Lake Union and the catalyzing effect it had on the neighborhood. The event starts at 7 a.m. Dec. 16 at Four Seasons Seattle. Tom Abbott of Colliers International will moderate a panel discussion with William Justen of The Justen Co.; James E. Klinger of Kidder Mathews; and Randy Main of Fred Hutchinson. For information or to attend, visit: https://goo.gl/Xe4jMo

Financing for SeaTac Office Center

[enlarge]

Bruce Ganong and Erica Christensen of HFF’s debt placement team secured $38.87 million in financing for Urban Renaissance Group and Iron Point Partners to buy SeaTac Office Center.

URG and Iron Point paid $47.1 million for the property at 18000 Pacific Highway S. in SeaTac.

It has three buildings constructed between 1974 and 1980, with about 550,000 square feet. Two buildings are 12 stories with 210,000 square feet and 225,000 square feet respectively. The other is a four-story, 115,000-square-foot structure.

They are 63 percent leased, according to HFF. URG and Iron Point plan to upgrade systems and exteriors, and make other enhancements.

HFF also represented the seller: ScanlanKemperBard Cos. of Portland.