May 16, 2019

Sammamish Town Center adds to team

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Sammamish Town Center

For the past few years, Oregon-based Innovation Realty Partners has been buying land and planning a nearly 90-acre mixed-use development called Sammamish Town Center on the Sammamish Plateau. Now joining that effort are Merrill Gardens and Pillar Properties (both owned by R.D. Merrill Co.). As part of the retail-residential-commercial mix, there will be a 150-unit Merrill Gardens senior community in a future phase of development. Last year, Benaroya Co. said it would invest $30 million in the venture. Shook Kelley Architects of North Carolina and Coughlin Porter Lundeen are also on the Innovation team. Ace Hardware has been announced as a future retail tenant. The number of residential units and total project size hasn't been announced. Pillar's Billy Pettit said in a statement, “This is an extraordinary opportunity in place making and we are thrilled to partner with Innovation Realty Partners to bring the Sammamish Town Center to life.”

NAIOP networking social

This month's networking event will be held on the rooftop deck at Lease Crutcher Lewis' offices, at 2200 Western Ave. It'll begin at 5 p.m. May 21. Details and registration: naiopwa.org.

May 09, 2019

Bridge expands into Kent and Sumner

Construction will begin soon on Bridge Point Kent 100. The 97,500-square-foot building should be finished in early 2020.

Bridge Development Partners has formally announced two industrial projects in Kent and Sumner. Bridge Point Kent 100 is being built on a 4.7-acre site it acquired last month for almost $5 million. The new building, at 26524 79th Ave. S., will have 97,500 square feet, with 30-foot clear heights, and 14 dock-high and two grade-level doors. Nelson is the architect, and Sierra Construction Co. is the general contractor. Construction will begin soon, and should be completed in early 2020. Shawn Childs and Andrew Stark of CBRE are leasing the property for Bridge. Bridge Point Sumner 60 will be developed on almost 3 acres acquired last month for $2 million. The building, at 1710 136th Ave. E., will have 64,600 square feet, 30-foot clear heights, three grade-level doors, 10 dock-high doors, and a 120-foot truck court. Synthesis Architects designed it, and Sierra will start construction next month. Completion is also expected by early 2020. Kermit Jorgensen and Scott Price of Neil Walter Co. are leasing that project for Bridge, whose local office is led by Justin Carlucci. He said in a statement, “Seattle is one of the top industrial markets in the country, as well as one of the most supply-constrained.” Bridge is also developing 41 acres in Lacey as Bridge Point Lacey, with 706,000 square feet in three buildings.

KM's Loveall elected to top SIOR post

Loveall

Industry veteran Patricia Loveall of Kidder Mathews was recently elected vice president for the Society of Industrial and Office Realtors (SIOR). It's a graduated post: She'll become global president of the organization in 2022. She's presently on KM's board of directors. Over her career, she's sold or leased 20 million square feet of office and industrial space. Her client roster includes Weyerhaeuser, Paccar, Home Depot, TIAA, and Clarion.