April 28, 2022 (Tacoma, WA) – On the market for the first time in decades are the Tacoma Super Block and the 12th & A Street property, two premier development sites in downtown Tacoma’s commercial core. John Bauder and Harrison Laird of Lee & Associates Commercial Real Estate Services have been retained to represent the owner in the disposition. Known as the Tacoma Super Block, the larger of the two sites is nearly 2 acres and two…
Seattle’s Multifamily Market 2021 Year in Review: Lee & Associates Report
March 31, 2022 (SEATTLE, WA) – Heading into the second quarter of 2022, the multifamily market in Seattle looks poised to continue its upward trajectory, building off of a still-recovering market in 2021. Lee & Associates, the largest broker-owned commercial real estate firm in North America, recently released its report titled “Multifamily Investment Review 2022,” which provides an overview of Seattle’s multifamily market in 2021 and discusses various factors including key economic trends, rental demand…
Pierce County buys downtown Tacoma building as office market gains steam
March 24, 2022, Tacoma – Tacoma’s downtown office market appears to be gaining momentum and Pierce County is the latest entity to hop in. The county bought the former Davies Pearson law office building at 920 Fawcett Ave. and plans to move staff from the Prosecutor’s Office into the space by late summer or early fall. The county purchased the 21,000-square-foot building last week for $4.2 million, according to public records. The neighborhood is home…
TACOMA RHODES CENTER BRINGS IN ADDITIONAL TENANTS, NEW RESTAURANT AND LIVE MUSIC VENUE
March 22, 2022, Tacoma – Rhodes Center’s newest tenant, Anchor QEA, is now set to occupy +/- 6,000 SF of office space once their build-out is completed this summer. Anchor QEA is a recognized leader in design and management of nearshore- and aquatic-based projects, offering innovative and cost-effective technical solutions to address unique challenges and implement sustainable solutions. Additionally, Kelly’s Olympian, the third oldest continuously open and operated bar/ restaurant in Portland, is bringing their…
Lee & Associates Driving Growth Through Market Prowess
For more information, please contact: Jim Bowles, SIOR President | Principal O (206) 624-2424 jbowles@lee-associates.com
King Lasik Opens Doors Near Tacoma Mall After December Purchase
March 4, 2022 (Tacoma, WA) – Lee & Associates Commercial Real Estate Services is pleased to announce that the Wedge Building at 4733 Tacoma Mall Boulevard, has been sold to King Lasik/K2 Vision as their latest expansion in the Puget Sound area. Doors opened to their new top-floor vision center on March 1st, following the closing of the $5.5M transaction in December. The off-market sale of the 10,546 SF building was at $522 per square…
Northwestern Mutual Grabs Space in Tacoma’s Tallest Office Tower
February 15, 2022 (TACOMA, WA) – Northwestern Mutual Life Insurance Co. has signed a 15,000-square-foot lease for office space in Tacoma’s tallest tower. The 25-story 1201 Pacific building, previously called Wells Fargo Plaza, is owned by Seattle-based Unico Properties. The 1970 tower has 327,000 square feet, including more than 27,000 square feet currently available for rent, in addition to the space taken by Northwestern Mutual…There was no office space in all of Pierce County currently under…
LEE & ASSOCIATES WELCOMES CHRIS REID, 30-YEAR REAL ESTATE VETERAN
February 16, 2022 (Seattle, WA) – Lee & Associates Commercial Real Estate Services, is pleased to announce the addition of Chris Reid to its Bellevue office. “With over 30 years of commercial real estate brokerage experience in the Puget Sound region, Chris has distinguished himself as one of the most consistent and knowledgeable commercial brokerage professionals in the area” commented Jim Bowles, President of Lee & Associates | Pacific Northwest. Chris has been involved in…
Fremont sale clears way Evolution Projects’ full-block master plan
December 13, 2021 (SEATTLE, WA) – A development site north of action sports retailer Evo’s Seattle flagship has been sold for $14.5 million to development company Evolution Projects, which Evo founder Bryce Phillips operates. A partnership of two regional companies, SRM Development and Schwartz, sold the nearly three-quarters of an acre property (3524 Stone Way N.) where they were planning an ultra-green five-story mixed-use office project called 35 Stone. Earlier this year they listed the property with Lee…
Seattle-area warehouse demand keeps pace with ‘massive output’
November 09, 2021 (SEATTLE, WA) – The Puget Sound-area industrial vacancy rate fell to 4.6% in the third quarter from 5.4% a year ago, according to a report by Lee & Associates. That is still higher than the national average, the report said, but a sign of strength for the local market due to “massive output” from developers, with nearly 10.2 million square feet under construction in Q3. That’s more than double the space that was…