Dec 14, 2017
Web-based brokerage Redfin has expanded its mortgage lending division to Washington, D.C., following similar forays into Texas and Illinois. Redfin Mortgage will be headed by Jason Bateman. He said Redfin's 30-day closing guarantee will give clients an edge in bidding wars. Redfin will expand its mortgage operations to other states in 2018. As a brokerage, Redfin serves more than 80 major metro areas, and has closed more than $50 billion in home sales.
Coldwell Banker Bain promoted broker Barbara Hindle to become chief revenue officer, a new position created for her. She has worked for six years with CBB's Capitol Hill office, and grew sales volume from $160 million to $429 million. Hindle has been with the company for over two decades. Company President Mike Grady said in a statement that the company “must build an infrastructure that provides the best possible delivery systems and personnel skills.”
MainStreet Property Group, which has completed two mixed-use apartment buildings at Kenmore Town Square, said it has leased space for a restaurant in a new building that broke ground this month. Seaplane Kitchen + Bar will be a venture among James Weimann, Deming Maclise and chef Jason Stoneburner, who previously collaborated on Poquitos, Rhein Haus and Bastille. Erik Carlson will be a partner in the bar operation. The restaurant is slated to open in the fall of 2018, with 5,000 square feet and a 700-square-foot mezzanine, plus a patio. Another 3,000 square feet of commercial space still is available to lease. In a statement, Mayor David Baker said, “We are excited for a new restaurant to land in downtown Kenmore, across from The Hangar at Town Square. Residents and workers are hungry for a new sit-down dining destination.” MainStreet developed the 94-unit LINQ Lofts + Flats and 225-unit Spencer 68 as part of the downtown revitalization. MainStreet and sister company GenCap Construction are planning more buildings at Kenmore Town Square.
NAIOP is organizing a lunchtime networking event and tour Jan. 11 of the FAA regional headquarters, now under construction in Des Moines. The 300,000-square-foot building is part of Panattoni Development's 87-acre Des Moines Creek Business Park. CollinsWoerman is the architect, and Abbott Construction is the general contractor. MetLife is also a financial partner in the project. Panattoni sold Phase I, with three buildings, late last year, and expects to finish Phase II early next year. The tour begins at the corner of South 216th Street and 24th Avenue South at 11 a.m. Registration and info at naiopwa.org.
Dec 07, 2017
Brian Surratt, director of the Seattle Office of Economic Development, is resigning after 12 years with the agency and joining Alexandria Real Estate Equities. In a statement, he said, “Alexandria is one of the largest urban developers focused exclusively on collaborative life science and technology spaces in our nation's leading innovation cities. Clearly, I am neither a scientist nor a technologist, but I am excited by the opportunity to help create places for the smartest people in the world to find cures, push new ideas, and transform lives.” Surratt worked on the KeyArena deal with Oak View Group, and community partnerships for the Liberty Bank Building and AfricaTown Plaza. The city named Rebecca Lovell as interim director for the OED.
Though it has been active in Seattle, Holliday Fenoglio Fowler is opening an office here. Thomas Wilson will come up from the HFF Portland office to co-lead the Seattle team along with Ira Virde, who will remain in the Portland office. The Seattle team will be Evan Kovac, Dave Otis, Christopher Ross and Scott Gilson. From HFF's Chicago office, Matthew Lawton said in a statement, “HFF has been very active in the Seattle market for more than 20 years and strongly believes in the city's economic strength and growth prospects into the future.” This will be HFF's 25th U.S. office.
Local brokerage firm Redfin issued its annual diversity data. Over the past year, the company reports an over six percent increase in women on its technology team, which includes engineers, product managers and product designers. Women now hold 32 percent of those titles. In all corporate ranks, women's representation has grown to 60 percent of the workforce. Gains in racial diversity were also reported. Company CEO Glenn Kelman said of the progress, “Folks in these roles have an unusual amount of power, determining what millions of online visitors see on our website and our mobile application. While recruiting and developing women for technical roles continues to be important, in 2017 we decided that racial and ethnic diversity would become a higher priority.”
Cascade Sotheby's International Realty says in the first three quarters it has closed $1 billion in deals. CSIR's market is central and western Oregon, including Portland, and southwest Washington, including Vancouver and the coast. The company hired 81 new brokers, according to CEO Deb Tebbs.