May 01, 2025

BLOXHUB, explained

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What is BLOXHUB, and why is its name in all-caps? It's an “ecosystem of companies,” based in Copenhagen, that includes co-work space. The organization also goes by the Nordic Hub for Sustainable Urbanization. Its director of global collaboration and partnerships is Martine Kildeby, and ULI Northwest is partnering with Scan Design Foundation to bring her here for a talk next Thursday, May 8. Back in Copenhagen, around 1,100 people from about 350 firms use the co-work space (not all at the same time, of course). BLOXHUB says those include “companies, science institutions, organizations, and public bodies — all working with architecture, design, construction, tech or other fields related to sustainable urbanization.” The 3:30 p.m. event, open to ULI members and non-members alike, will be held at MG2's downtown headquarters. Details and registration: northwest.uli.org

Corliss makes two land deals

Eric (left) and Steve Corliss

Family-run Corliss Management Group announced two significant land deals in March and April. First, it sold a 136-parcel home building site at its much larger Sunrise to KM Homes, which will construct and then sell the single-family residences. That 80-acre subdivision is dubbed Sunrise Heights. Of the $17 million deal, Eric Corliss said in a statement, “As a fifth-generation family business that has been developing this master planned community for over three decades, we are thrilled to see Sunrise Heights take form.” (South of Puyallup and east of Frederickson, Sunrise spans about 1,400 acres, and includes apartments and some commercial buildings.) Then in April, not far away from Sunrise, Corliss said it assembled 48 acres near Pierce County Airport — Thun Field. The price or prices weren't disclosed, and the county hasn't yet recorded the sales. Corliss says that development plans will follow, and that it's now seeking “a qualified industrial commercial real estate brokerage firm to assist in evaluating site design, leasing strategies and/or disposition options for the property. The selected firm will play a key role in helping CMG shape its approach to the site's future — from land planning to market positioning.” Mark Walsh at Corliss is leading the effort; he said in a statement, “The site has long been a target for CMG due to its location, infrastructure access, and industrial zoning. With full control now secured, we are in the early stages of evaluating a large-scale industrial park development that is thoughtful and impactful for the region.”

Dunham lands two Kirkland tenants

At two different Kirkland addresses, Ryan Dunham Real Estate represented the landlords in a pair of new leases. At Peter Kirk Square Office Park, Three Keys Property Management took 1,026 square feet, bringing the building to full occupancy. And at the 720 Market St. building, owned by Michelle Moscatel, 910 square feet went to Moment US.

eXp Realty adds to its ranks

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An entirely virtual brokerage based in Bellingham, eXp Realty has about 83,000 agents working in the U.S. and abroad. New to the ranks is Feisal Ramjee, who'll remain based in Kirkland. Leo Pareja of eXp said in a statement, “Feisal's mastery of new construction, relentless work ethic and focus on service make him a perfect fit for eXp. We're thrilled to support his vision as he continues to shape communities and mentor the next generation of agents.” Ramjee also expects to begin working the Arizona market. Separately, eXp announced last month that its Mindy Grubb, already VP of events, is now executive director of eXtend a Hand, the company's charitable foundation. She said, “This role is deeply personal to me. I've seen firsthand how powerful it is when a real estate community rallies around its own.”

Lots sold in Wenatchee

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Skyridge is a future 400-home community in Wenatchee. The first land sales recently took place, says Century Communities, which acquired an initial 63-home chunk of the project from Triad Maple LLC. Buyer and seller jointly announced the deal. Triad is led by Fred Grimm, a well-known figure in Seattle development circles. Century's Mick Cermak said in the joint announcement, “We're thrilled to build at Skyridge and contribute to the ongoing growth within Wenatchee.” The development, on the west side of the Columbia River, directly abuts the 2,000-acre Sage Hills nature preserve, with its large network of trails.

Apr 24, 2025

Mary Bridge: first look

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Not yet open in Tacoma, but nearing completion is Mary Bridge Children's Hospital. Before its anticipated debut next year, you can tour the project with NAIOPWA next Tuesday, April 29. Naturally the walk requires full protective gear (hard hats, etc.). Layton Construction and Abbott Construction are building the 250,000-square-foot project, which was designed by Earl Swensson Associates of Nashville, with local support from TGB Architects of Edmonds. The price tag is an estimated $415 million. The tour begins at 4 p.m., and concludes with drinks at the nearby W.W. Seymour Botanical Conservatory. Details and registration: naiopwa.org

Berkadia lands $102M loan for Vancouver senior housing

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Down south in Vancouver, Koelsch Communities opened its Park at University Village and Inn at University Village two years ago. That's a 263-unit independent and assisted living community. Now that it's up and running, with an occupancy rate of about 67%, Berkadia stepped in to arrange a $102 million bridge loan. That retires the construction loan, says Berkadia, along with preferred equity from a REIT and a partner note. Berkadia's Jay Healy and Andrew Lanzaro led the effort, with a federal agency lending the money. The loan two-year, interest-only term. Full occupancy is expected next year, says Berkadia.

eXp continues international push

Based in Bellingham, eXp Realty is an entirely virtual brokerage, with its agents working across North America and, per a recent announcement, in Turkey. The new office is its 26th abroad. CEO Glenn Sanford said in a statement, “Our entry into Turkey, just weeks after launching in Peru, reflects our momentum and our mission: to deliver the most agent-centric brokerage on the planet. We're expanding fast — not just for the sake of growth, but because agents around the world are demanding a better way to build their business.” The new office is led by Yigit Portakal, who added, “This is a proud moment — not just for me, but for every agent in Turkey who's been waiting for a better way.” The firm now lists nearly 83,000 agents under its banner.