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…
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’s Fremont Court Asset Hits the Market with $18MM Pricing
October 26, 2021 (SEATTLE, WA) – Seattle-based developer Brian Regan has placed on the market for sale the mixed-use project known as Fremont Court in the Fremont neighborhood of Seattle. This is the first time in 22 years that the property is offered to the market. The asking price on the sale of the property is $18 million, according to sources aware that the property is up for sale. The current owner of the complex…
LYNNWOOD TOD SITE SOLD TO MULTIFAMILY DEVELOPER
October 25, 2021 (SEATTLE, WA) – Lee & Associates Commercial Real Estate Services is pleased to have brokered the 1.11-acre disposition of a former restaurant location in Lynnwood to Koz Development, on behalf of their client DRK MC2 LLC. The 4301 Alderwood site, located just a short walk from the planned Lynnwood City Center Station, transacted at $5,500,000. Formerly occupied by Buca di Beppo, the site is zoned City Center – Core (CC-C), which allows…
Prime downtown corner back on market, but now with landmarking restrictions
June 22, 2021 (SEATTLE, WA) – Most call it the Bergman Luggage building, though that business closed during the pandemic. The landmarked two-story building at 1901 3rd Ave., on the corner of Stewart Street, had been poised for sale back in 2018. At the time, Continental Properties had an agreement to buy the property from longtime owner Brooke Barnes. Continental and architect Perkins&Will did file an early 43-story apartment plan, but it never entered design review….
VANESSA HERZOG ELECTED TO SIOR BOARD OF DIRECTORS
To Serve Two-Year Term on SIOR’s Board of Directors as Member-at-Large April 28, 2021 (Seattle, WA) SIOR recently elected its 2021-2022 officers during its spring event, TransACT 360, which was held virtually this year due to the global pandemic. The elected officers will be installed in Nashville, Tenn. prior to CREate 360, SIOR’s fall event, that is currently scheduled to be held in-person October 14-16, 2021. This fall, SIOR’s current president-elect, Patrick Sentner, SIOR, an office specialist in…
Vanessa Herzog Discusses the Industrial Market with Seattle Business Magazine
E-commerce Drives Industrial Market Strength Industrial space is in high demand March 30, 2021 (Seattle, WA) Amazon and other retailers are going the last mile in the Covid-19 economy, and that’s delivering to Seattle-area industrial and warehouse investors. “Toward the end of April, e-commerce just took off. It has absolutely just gone bananas. A tremendous amount of unprecedented growth,” says Vanessa Herzog, principal at Lee & Associates of Seattle and a member of the Society of…
Candice Chevaillier Discusses Potential Post-Pandemic Multifamily Market – The Registry
Report: Systemic Changes to Seattle Multifamily Market Post-Pandemic Will be Few February 19, 2021 (Seattle, WA) 2020 saw Seattle investors and commercial real estate experts put the brakes on activity, as predicting how the market would evolve seemed like an insurmountable task. Movement in the market remained limited while speculation around emerging trends such as the impact of work from home and the popularity of suburban assets continued to swirl. However, a recent report…
LEE & ASSOCIATES WELCOMES THREE EXPERIENCED OFFICE SALES AND LEASING PROFESSIONALS TO THEIR TACOMA OFFICE
February 16, 2021 (Seattle, WA) – Lee & Associates Commercial Real Estate Services, the largest broker-owned commercial real estate firm in North America, is pleased to announce the addition of three seasoned brokers to its growing team. John Bauder, Harrison Laird, and Yeh-Hee Hahn, all formerly of CBRE, Inc., have joined Lee & Associates in its Tacoma office. Laird said of the move: “We are excited to be a part of the growing team at…
After $326M Portland sale, Alco invests $155M in Redmond, Bothell
January 28, 2021 (Seattle, WA) – In two deals that hadn’t yet been recorded by King and Snohomish counties by deadline Thursday, two business parks have sold for $155 million to local firm Alco Investment Co. Its broker, Jim Reed of Lee & Assoc., announced the deals and provided details. Kennedy Wilson was the seller for both properties. The fully-leased eight-building Redmond East sold for $80 million, or about $276 per rentable square foot. It’s…