May 04, 2023

Say hello to Jack

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Everyone on the waterfront is excited about The Jack, from Urban Visions. The eight-story, 145,500-square-foot project is downtown's only significant ground-up office building to have soldiered through the pandemic. Demolition came in 2020, followed by a long pause. The project finally broke ground under JTM in the summer of 2021, topped out last December, and you can tour the Olson Kundig-designed building next month. (It's set to open in a few more months; one floor appears to have been leased.) But there's a catch: The June 14 preview is being conducted by ULI Northwest's young leaders group. So if there was ever a good time to join, it's now. Details and registration: northwest.uli.org.

EQ Office

Marks

Veteran broker David Marks has jumped from Newmark to EQ Office, the latter firm recently announced. He becomes director of leasing, and will oversee day-to-day leasing in the company's Seattle office portfolio. (It has about 3 million square feet here, including 999 Third and U.S. Bank Centre.) Blackstone owns EQ Office, whose Britton Derkac said in a statement, “David is an established leader in Seattle's commercial real estate market. We are confident that David will enhance our regional operating capabilities.” Said Marks, “I am thrilled to join an organization focused on creating effective, inspiring workplaces and maximizing tenant success.”

MainStreet Property Group

Faust

Hizzey

MainStreet Property Group has announced two recent promotions. Jackie Hizzey and Kim Faust are now co-presidents for the prolific apartment developer. They both previously served as senior VPs, and have been with MainStreet since its founding in 2011. Kelly Price co-founded the company, and is now stepping down as president to become CEO. Eric Campbell had been serving in that role; he now becomes chairman of the firm. Price said in a statement, “It's an exciting time for MainStreet, Jackie and Kim. It is exciting to see these two strong and experienced women emerge as the day-to-day leaders of our company.” Faust added, “This is a journey without end, and we are as motivated as ever to continue this success.” MainStreet recently completed 106 units in downtown Redmond, and recently broke ground on 207 Woodinville units.

Apr 27, 2023

A rare SRO sale in Spokane

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You don't see many sales these days for single room occupancy residential buildings. Such SROs were essentially outlawed in Seattle following the 1970 Ozark Hotel fire. Most have since been demolished, but a few do remain. One surviving example is the 39-unit Pioneer Pathway House in Spokane. The century-old, four-story building operates as affordable housing, accepting Section 8 vouchers, and also has a two retail bays. It also just sold for $1 million, in a deal entirely arranged by Max Frame and Henry Ruf at Kidder Mathews. The seller was Pioneer Human Services, whose Bob Thompson said in a statement, “It was our hope to keep the building in the affordable community. Timely communication, professionalism and knowledge helped both sides of the deal navigate the transfer process with the Washington State Housing Finance Commission with surprising ease.” The unnamed Spokane buyer will continue to operate the SRO as affordable housing.

Colliers

Sander

Okada

Colliers announced the recent hiring of industrial specialists Talor Okada and Rich Sander, who make the move from NAI Puget Sound Properties. They'll be based in the brokerage's Bellevue office. Scott Blankenship of Colliers said in a statement, “Culturally, these two are an incredible fit, and I look forward to integrating their vast industrial experience with our well-rounded team, so that we can continue enhancing the services we provide our clients.” Okada added, “Rich and I look forward to working with this talented group to provide current and future clients with expert market knowledge and the highest level of service.”

NAI Puget Sound Properties

Schipper

Kyle Schipper has been with NAI Puget Sound Properties for six years. Since then, he's become a VP who specializes in industrial leasing and sales in Pierce and South King counties. And now NAI has named him to be one of its 24 partners. The firm's Tina Pappas said in a statement, “Kyle's exceptional qualities are evident in his focus, collaborative spirit and relentless drive for success. He exemplifies the very best qualities of a real estate broker and now partner.”

Almeleh moves to Broderick

Veteran broker Larry Almeleh has joined the team at Broderick Group, the firm recently announced. He makes the move from Tishman Speyer, and was long associated with Washington Partners before its absorption into JLL. He'll continue to specialize in the Seattle office market.