Jan 26, 2017

Beacon Development Group

Lloyd

Proctor

Purcell

Beacon Development Group said founder Paul Purcell, who has led the firm for 18 years, will retire in March. Two executives are stepping into leadership roles. Effective Jan. 1, Cindy Proctor and Brian Lloyd were named vice presidents. Proctor has been with Beacon for 11 years, and recently led the development of Plaza Roberto Maestas, a TOD apartment project on Beacon Hill. Lloyd is a 13-year veteran at Beacon, and is currently developing 40 affordable units at Pike Place Market. Together, the two have led in the creation of over 4,000 units. Beacon specializes in affordable housing, offering consulting services and developing more than 80 of its own projects, with a value exceeding $1 billion.

Jones Lang LaSalle

Patchin

Jones Lang LaSalle named Katie Patchin a vice president in the Seattle office. Previously with MG2, she will join JLL's project and development services team. That group offers project management services for relocation, build-to-suit and other projects. Patchin holds a certificate in commercial real estate from the University of Washington. In a statement, JLL's Jacqueline Dompe said, “As more of our Seattle-area clients move to pursue design and construction projects, Katie will play a key role in assessing their specific priorities and ensuring our team delivers consistent with those motivations.”

Urban Land Institute

The ULI has two significant events on the horizon. Thursday is the Young Leaders Group's annual social at Rachel's Ginger Beer (1610 12th Ave.) from 5:30 to 7:30 p.m. The ULI Spring meeting is set for May 2-4 at Washington State Convention Center. Over 3,000 people are expected to attend the meeting, which will offer tours, workshops, speakers, mixers, networking sessions and more. Registration and info for both events is at: northwest.uli.org.

Real Estate Game Works

A four-year-old Bellevue tech startup called Real Estate Game Works recently launched a new tool for continuing education in the real-esate field. Now the tool is being customized state by state to meet their licensing requirements. Washington state's simulation game debuted last fall, and the Oregon version was just released. Here's how CEO Jed Etters described the tool in a press statement: “Say farewell to countless hours of sitting in a classroom or taking mind-numbing multiple-choice tests. Our simulation will revolutionize the way real estate agents renew their licenses.” The educational games can be played on desktops, laptops and tablets. Etters' partner in the project is game designer Brayden Olson. Users pay a license fee of $9 per month for the product.

The Port of Everett, Bellingham Yacht Sales

The Port of Everett said it signed a new two-year lease with Bellingham Yacht Sales, which is expanding its operations. Beginning next month, BYS will operate a small sales office and have boats moored at the port's North I-Dock. In a statement, BYS president Dean Ouilette said, “There were many attributes that we were looking for, including haul-out facilities, a boat launch, prime moorage and waterfront office space. We are pleased to say we have found the Port of Everett's new Waterfront Place development to offer everything we were looking for.” Waterfront Place is the port's 65-acre, $373 million mixed-use redevelopment project, which will also include housing, hotels, restaurants, retail and upgrades to the marina.

NAIOP South Sound Forecast

NAIOP's 2017 economic forecast for the South Sound will be Thursday Feb. 2 starting at 11 a.m. at the Greater Tacoma Convention & Trade Center. The keynote speaker is Lynn Michaelis, president of Strategic Economic Analysis. Other speakers include Tacoma Mayor Marilyn Strickland, Pierce County Executive Bruce Dammeier and Thurston County EDC Executive Director Michael Cade. Strickland will give an update on the city's commercial real estate market. Register at https://naiopwa.memberclicks.net

Jan 19, 2017

Marcus & Millichap

Photo by Marcus & Millichap

The Seattle office of Marcus & Millichap said it has brokered the $15.35 million sale of Shoreside Village, a 119-unit apartment complex in Everett's Beverly Lake neighborhood. The transaction was worth about $129,000 per unit. Rich Walker and Palo Alto-based Eduardo Cerna represented the seller, a California investor group. M&M's Spencer Clark and Matt Gardner procured the buyer, Williams Investments, a regional multifamily investment company. In a statement, Walker said, “The property provides new ownership with both a turn-key asset and one that offers opportunities to enhance value. Rental competition in the immediate neighborhood is relatively low, as there are only two other conventional market-rate apartment communities on Beverly Lake.”