Dec 24, 2015

HFF arranges $308M mall financing

HFF said it arranged $308.4 million in financing for three shopping malls in Washington, Illinois and Connecticut. HFF secured financing on behalf of a joint venture of Centennial Real Estate Co., Montgomery Street Partners/Blum Capital, USAA Real Estate Co. and Westfield America. The malls total 2.3 million square feet. They are: Vancouver Mall in Vancouver; Connecticut Post Mall in Milford, Connecticut; and Hawthorn Mall in Vernon Hills, Illinois. Claudia Steeb, Jim Curtin and Barry Brown led the HFF debt placement team. The joint venture recently acquired the malls, as well as two others, from Westfield for $1.1 billion.

NAI helps sell Kent industrial park

Taylor Hoff and Mike George of NAI Puget Sound Properties brokered the sale of a three-building industrial center in Kent. Rosen Property Investments paid $8.6 million, or $90 per square foot, for Kent Business Center at 25500 74th Ave. S. The buildings total 95,972 square feet, and are 58 percent leased with a mix of small and medium-sized companies. NAI Puget Sound Properties is based in Bellevue and has 45 brokers.

WSHFC approves $89M for housing

Washington State Housing Finance Commission approved $89 million for housing complexes in Everett and Federal Way. Gateway Apartments is at 13000 21st Dr. S.E. in Everett, with 177 units that caters to families. Celebration Senior Living West is at 1316 S. 328th St. in Federal Way. Celebration West will have 189 units, and is the second phase of a low-income complex near Celebration Park. The commission finances housing by issuing tax-exempt bonds or notes and allocating Low-Income Housing Tax Credits.

Blazing Onion opens in Silverdale

Blazing Onion, a fast-casual burger restaurant, has opened in The Trails at Silverdale Mall, a 220,000-square-foot mall developed by CenterCal Properties. This is Blazing Onion's first location in Kitsap County. The mall is at state Routes 3 and 303. AT&T, Home Goods and Ulta Beauty also have opened there. In January, more stores will open: Chipotle, MOD Pizza and Silverdale Smiles Modern Dentistry and Orthodontics. Set to open in the spring are Corner Bakery, DSW, Sleep Number, Total Wine and Verizon.

Dec 17, 2015

Davis finishing flex building in DuPont

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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

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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.