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Sep 08, 2016
Next Wednesday, Sept. 14, Whole Foods will open 365 by Whole Foods in Bellevue Square. This is the third store in the chain's new line of smaller groceries that will focus on value-minded, grab-and-go shoppers. It will be in what's now called South Commons at Bellevue Square — on the former site of JC Penney. Kemper Freeman's family had a grocery in the mall during the early days, when it was an all-purpose family driving destination. The city now has more downtown residents, mainly single, who tend to buy smaller quantities.
Seattle City Council confirmed Mayor Ed Murray's appointment of Ahmed Abdi to a four-year term on the seven-member Seattle Housing Authority Board of Commissioners. Currently an outreach manager at Fair Work Center, Abdi has experience with SEIU 775, Somali American Public Advocacy Committee, Jewish Vocational Services and other organizations. He serves on the board of African Diaspora of Washington and replaces former resident commissioner Aser Ashkir. SHA owns and operates about 8,000 units at about 400 sites around the city.
Building owners Unico Properties and Laird Norton Properties said Stone34 in Fremont, home to Brooks and other tenants, has been certified by the city’s Deep Green Pilot Program. Located at 3400 Stone Way N., the 128,000-square-foot office/retail building was developed and built by Skanska. LMN was the architect. It was completed and sold in 2014. After a year’s evaluation, Stone34 met or exceeded the Deep Green goals for energy and water use, and for stormwater reuse. Rainwater collected from the roof goes to a 10,200-cubic-foot cistern for non-potable uses. A separate vault collects stormwater from sidewalks and gardens. Being in the program increased the buildable area for Stone34 by 15 percent.
Sep 01, 2016
Seattle-based Security Properties has sold Diamond at Prospect, a 140-unit mixed-income apartment building in Denver’s Prospect neighborhood, for $20.5 million. Hamilton Zanze Real Estate Investments of San Francisco was the purchaser and CBRE Affordable Housing arranged the sale. The building has 98 units with income restrictions. Diamond at Prospect was built in 2004 and has averaged 96 percent occupancy over the last three years, according to CBRE. CBRE Affordable Housing and Andrew Behrens of CBRE’s San Francisco office secured $12.3 million in acquisition financing on behalf of the borrower. The 10-year fixed-rate loan was provided by Fannie Mae at 3.07 percent CBRE’s lowest rate to date, the company said. CBRE Affordable Housing is a specialty group within CBRE Group.
With its main offices in Chicago and San Francisco, 29th Street Capital is opening an office in Portland and expanding into the Northwest. Barry Heninger was named senior vice president of multifamily acquisitions for the Pacific Northwest, and will look for “value-add and opportunistic acquisition targets.” The seven-year-old firm has acquired 40 multi-family properties with over 6,800 units in 12 states. It also buys distressed debt and single-family properties.
Robert Schwindt, who previously owned and operated Yellow Iron Construction, has joined developer Tarragon. He has an executive MBA from the University of Washington, and will specialize in master planned communities.
Tuesday, Oct. 11 is the date for WSCAR’s annual Education Day. It will be at Pacific Tower, formerly Pacific Medical Center. Commercial real estate brokers can network and earn continuing education credits. Early-bird pricing of $135 for members and $130 for non-members runs through Sept. 11. Details and event registration: wscar.com and (800) 275-2522.
Weingarten Realty Investors has signed four new commercial tenants for the Whittaker, which is nearing completion in West Seattle. They are CityMD Urgent Care, MOD Pizza, BECU and T-Mobile. Weingarten’s Louis Wenger closed the deal, with JSH, First Western and Kidder Mathews representing the tenants. Whole Foods will anchor the Whittaker’s 70,000 square feet of retail space. Lennar’s seven-story complex will have 389 units and 594 underground parking spaces in two buildings, with phased openings to begin this fall. The project is named for local climber Jim Whittaker, the first American to reach the summit of Mount Everest (in 1963). The Whittaker’s website is livewhittaker.com