Mike Newton and Mike Catt of Kidder Mathews represented the seller. The deal was worth about $144 per square foot. The property had been listed for about three months.
OpenSquare, a provider of office space workstations and furniture for corporate users, fully occupies the 75,048-square-foot property, which is located at 303 S. River St.
The sellers were represented by the Kidder Mathews team of Andy Miller, Joe Lynch and Dan Harden. KM announced in July that it was marketing the property.
Casa Loma, a 48-unit multifamily community located at 218 West Clemmens Lane in Fallbrook, CA, sold for $6.9 million. The buyer was Efren R. Cota Ltd., a private investment company, while the seller was Woodspear Properties, a commercial real estate investment company.
At the time, the building was vacant. Westcore made substantial improvements to the property and leased it long term to office workstation and furniture maker OpenSquare, said real estate broker Andy Miller of Kidder Mathews. Miller, along with Mike Roy and Kevin Skillestad of Neil Walter Co. negotiated the deal for Westcore.
Average rent hikes ranged from 2.2 percent in Orange County to 3.9 percent in Los Angeles County and 4.2 percent in the Inland Empire, according to third-quarter data from Reis Inc., RealPage Inc., Yardi Matrix and Kidder Mathews.
Sheila Bale, Ryan O'Connor and Tom Weinhold of Cushman & Wakefield's Phoenix office negotiated the transaction on behalf of the buyer. The Phoenix Kidder Mathews healthcare team of Senior Vice President Michael Dupuy and Vice President Rachael Thompson negotiated the sale on behalf of owner 6 Turns, LLC.
Kevin Joshi, a senior vice president and partner with Kidder Mathews, represented BPM on both deals. Andrew Rosengarten of JLL represented Cable Huston, and Chris Elsenbach, also of JLL, represented Milliman.
The 48-unit Casa Loma Apartments at 218 Clemmens Lane was sold by Woodspear Properties to Efren R. Cota, Ltd.
Commercial real estate firm, Kidder Mathews, announced it has opened an office in Glendale, California and has recruited five local brokers. This marks the firm's seventh Southern California office to open in the past three years.
The Phoenix Kidder Mathews healthcare team announced the sale of 3271 N. Civic Center Plaza, a 16,919-square-foot medical office building in the South Scottsdale submarket. The asset commanded a sale price of $3.4 million ($200.96 per square foot).
The Phoenix industrial real estate market remained steadfast and unwavering during the third quarter, producing strong activity yet again and reflecting the consistent demand this industrial market has shown cycle after cycle, according to Kidder Mathews' latest market report for the Phoenix commercial real estate industrial market.
On the advice of commercial real estate broker Jim Klinger, then of Kidder Mathews but now retired, Vulcan bought parcel after parcel in the South Lake Union area. By 2001, Vulcan had spent $200 million buying 53 acres in South Lake Union, where the company developed Amazon.com Inc's headquarters.
Ivanoff said former Vulcan Inc.'s real estate chief Larry Martin "really advanced the game" for Allen, taking down land with Jim Klinger, who was a real estate broker with Kidder Mathews but is now retired.
Wareham Development was represented by the Kidder Mathews team of Timothy Mason, James Bennett and Eric Bluestein. Catalent was represented by the Cushman & Wakefield team of Jon Gorczyca and Marc Ward.
"The subject asset is located in the epicenter of the prime retail corridor between Pine and Pike," Yang said. "With all the growth and upcoming changes in downtown Seattle, Al Zarooni group is excited about an opportunity to redevelop a project at this phenomenal location down the road."
The retail brokerage team of Chuck Wells, Trask Switzenberg, Darrell DeShaw, and Justin DiBiase has joined Kidder Mathews' Phoenix office.
Commercial real estate veteran Bill Boyd and several members of his Glendale office have joined the Seattle-based brokerage Kidder Mathews from Charles Dunn Co.
Lytle Enterprises was represented in the transaction by the real estate company Kidder Mathews.
Retail brokerage team, Chuck Wells, Trask Switzenberg, Darrell DeShaw, and Justin DiBiase, have joined Kidder Mathews' Phoenix office. Prior to Kidder Mathews, the team was with Advisors Commercial Real Estate in Phoenix.
"A pause and potentially sideways activity down the road is inevitable as the market readjusts to some new direction. When is anyone's guess," Robert Thornburgh said in the report.
Shekhar has been in the commercial real estate industry for more than 10 years and has been involved in more than $200 million in property sales, primarily in multifamily and net lease properties. He also served as an account manager at First American Title, where he developed and refined his customer service and built key industry relationships.
The seller was Pacific Urban Residential, which acquired the property for $67.2 million last year, when it was called Wasatch Hills. Its brokers were Giovanni Napoli and Philip Assouad of Kidder Mathews; and Dave Schumacher of Colliers.
The asset sits in the heart of downtown Tacoma and is just several blocks from the Museum of Glass and approximately four miles from the Port of Tacoma, which is one of the city's primary economic drivers. The property is also near access to Interstate-5.
The Pacific Urban sale was brokered by Giovanni Napoli and Philip Assouad of Kidder Mathews along with Dave Schumacher of Colliers International - all of which represented the seller.
Ross Klinger of Kidder Mathews represented the seller. The deal was worth about $297 per square foot. The property had been listed for about five months.
Kidder Mathews's Andy Miller represented the seller, and KM's Joe Lynch represented the buyer. The deal was worth about $293 per square foot.
Wareham continues to seek tenants for the remaining space in EmeryStation West. The developer is represented by the Kidder Mathews brokers Timothy Mason, James Bennett and Eric Bluestein.
Since Steven Klein, senior vice president and managing partner for the Portland office of commercial real estate leader Kidder Mathews, opened the office 15 years ago, he has had one goal - that the firm's culture remain the first and foremost concern.
The company also plans to hire approximately 350 employees for the facility, which is owned and operated by CP Logistics NVCC II, a joint venture between CALSTERS and Panattoni Development Co.
Kidder Mathews commercial real estate brokers, Michael Nevis, SIOR, CCIM, Michael Hoeck, SIOR, Steve Kucera, CCIM, and Tim Gunsten represented CP Logistics in the transaction.
Sean Gallinger of Kidder Mathews, who brokered the deal on behalf of the seller, said the new owner has a tenant for part of the vacant space in the building, about 4,500 square feet.
The relative speed which with it filled up, first with the hotel tenant, then with Amazon - a major coup in the local real estate scene for Kidder Mathews senior vice president Kevin Joshi - had other developers in awe.
One tenant, iSoftStone, is marketing its top-floor North American headquarters for sublease. Broker Jason Smith of Kidder Mathews is listing the space and asking $48 per square foot year, including the cost of insurance, maintenance and property taxes.
Todd Gauthier and Jason Bloom of Kidder Mathews represented CITC. The property had been on the market for about two months. The deal was worth about $286 per square foot.
Canterna has over 20 years of commercial property management experience. Prior to joining Kidder Mathews, she was a property manager for Powell Development Company, where she managed a portfolio of one million square feet of commercial assets.
A longtime partnership between two commercial brokers has moved to a new home, with Jim Gray and Nahz Anvary jumping to Kidder Mathews' downtown Sacramento office from Cushman & Wakefield.
The sale was arranged by Sidney Warsinske, Ryan Dinius, Giovanni Napoli and Philip Assouad of Kidder Mathews. The transaction was worth about $166,772 per unit.
A second quarter 2018 Seattle Industrial Real Estate Market report written by Kidder Mathews indicates that the Puget Sound region's industrial market could be set for more activity in the months ahead.
Kidder Mathews bolstered its San Francisco Bay Area presence with the addition of Eric Luhrs, a 30-year commercial real estate veteran who will oversee its Northern California and Nevada regions as EVP of brokerage.
Luhrs, who will be at the helm of the company's San Francisco, Redwood City, San Jose, Sacramento, Roseville and Reno offices, starts as executive vice president of brokerage on September 11, the firm said.
"Central Park Plaza has options for those smaller tenants that are having trouble finding office spaces with all the big deals that are happening," said Chad Leiker, first vice president with Kidder Mathews, a commercial real estate brokerage.
The deal, recorded Tuesday, was worth about $1,349 per square foot for the land. Ross Klinger and Dave Speers of Kidder Mathews brokered the off-market transaction.
The industrial market in the wider region is set for more activity in 2018-net absorption totaled nearly 1.2 million square feet in second quarter and is expected to keep close pace with deliveries, according to a second quarter 2018 Seattle Industrial Real Estate Market report written by Kidder Mathews
Kidder Mathews announced today that Eric Luhrs has been recruited to oversee their Northern California and Nevada regions as the executive vice president of brokerage.
Kidder Mathews Senior Vice President Thad Mallory represented both buyer and seller in the off-market deal. In a recent transaction, CenterPoint acquired two other Seattle-area industrial properties totaling 342,000 square feet. Both assets are 100 percent leased.
Thad Mallory of Kidder Mathews represented both sides in the off-market transaction.
The deal was worth about $166 per square foot. CenterPoint said it had a new tenant lined up, described as "a diversified logistics solutions provider."
The Society of Industrial & Office Realtors, including the Oregon Chapter and the SIOR Foundation in Washington, D.C., has partnered with PSU's Center for Real Estate to establish a $24,000 fund to create four $4,000 scholarships for graduate students.
The seller was Commuter Center LLC, an entity of the Jacobi family, which owned the main property for over 50 years. It completed the block with a small purchase in 2012. Ross Klinger and Dave Speers of Kidder Mathews brokered the deal.
RBT Investments LLC is the new owner of I-90 Corporate Campus, a two-building campus situated along the Interstate 90 corridor.
Located on 14.38 acres, this low-coverage site will be leased by a diversified logistics solutions provider. Thad Mallory of Kidder Mathews represented CenterPoint and the seller in this off-market transaction.
The seller, Pine Forest Properties, a Seattle based real estate development and investment firm, was represented in the transaction by Kidder Mathews.
It's a long way from Communist China where Holly Yang grew up to the downtown Bellevue office tower where she brokers multimillion-dollar real estate deals for investors from Asia.
"About 80 percent of Walmart's real estate is within 15 minutes of 90 percent of the U.S. population," says Jon Reno, SIOR, senior vice president and managing partner, Kidder Mathews. "Amazon doesn't have that, and they know that. They're trying to get there, but that's where Walmart has its competitive advantage."
All this real estate activity comes in the midst of a tough environment for companies looking to expand. There are only 25 blocks of available space over 50,000 square feet in the Seattle arear, 10 of which are over 100,000 square feet, according to real estate firm Kidder Mathews.
The I-90 corridor has consistently been one of the strongest Eastside submarkets, attracting larger, strong-credit tenancy including, Microsoft, T-Mobile, and Verizon Wireless.
Dan Harden and Joe Lynch of Kidder Mathews are the leasing agents, and KM's Harden, Lynch and Andy Miller represented the seller.
"Irvine really found a location that was under-served," Leiker said. "The housing was needed at that location. Whole Foods, the stores, the restaurants, those are all needed there. Santa Clara Square was built before being close to mass transit became a developer objective."
Seattle's tech boom is making it tough for fast-growing companies like Rover to find space. Real estate company Kidder Mathews reports that the percentage of vacant office space in the region hit a 10-year low in the second quarter, coming at 6.8 percent.
Thad Mallory of Kidder Mathews represented CenterPoint and the seller in this off-market transaction.
The buyer was BB6 Seattle LP, which is represented by Beijing-based Zhong Lun Law Firm. It lists a mailing address at HB's offices in Seattle. Ross Klinger of Kidder Mathews represented the buyer.
A new report prepared by the commercial real estate firm Kidder Mathews showed that vacancy rate across the Eastside sat at 5.83 percent, an area which has seen a nearly 66 percent decrease in available office space since 2010. Much of its report excluded the large leasers of Microsoft and offices in Bellevue's central business district.
It's a possibility that tenants haven't yet been secured, as suites 100 and 101 appear for lease under property search results for West Coast commercial real estate firm Kidder Mathews' First Vice President Erik Corrigan.
Philip Assouad and Giovanni Napoli of Kidder Mathews brokered the deal, which was worth almost $192,000 per unit.
The Kidder Mathews team of Giovanni Napoli, Philip Assouad and Ryan Dinius brokered the sale and provided transaction details. The transaction was worth about $224,702 per unit.
The Phoenix branch of Kidder Mathews commercial real estate firm is looking to nearly double the size of its brokerage during the next 12 to 18 months.
"Landlords are becoming more and more receptive to repositioning retail real estate towards entertainment-related activities instead of soft goods," Stephan Ktorza, a senior vice president with Kidder Mathews, which brokered the deal, said in a statement.
On Friday, August 24th, Everett, Washington-based Coast Equity Partners acquired the Collins Junction Apartments in Lynnwood for $37.75 million, or approximately $224,702 per unit, according to public records filed with Snohomish County. The seller of the property was Grosvenor Americas.
Last quarter 38 buildings totaling 7 million square feet were under construction, up from 24 buildings with 6.1 million square feet at the start of the year, according to real estate company Kidder Mathews. The vacancy rate held steady at 3.3 percent last quarter.
Today's Southern California real estate industry is experiencing unprecedented growth with fascinating challenges. "I have never seen a market like this during my career," observed Robert G. Thornburgh, CCIM, SIOR.
Expedia plans to move to Seattle in 2019 and Amazon's lease begins in 2020. The building, called Tower 333, is 20 stories tall.
For Kidder Mathews CEO Jeff Lyon, the first step toward establishing a positive culture is to support and reward excellence and integrity.
"Provide a culture that exists to support meaningful work, where people get great results and they're treated well," Lyon said in the survey.
To Jerry Holdner, director of research at Kidder Mathews, the largest independent commercial real estate firm on the West Coast, today's office market players increasingly have shifted their focus from CBD assets to suburban properties to capture greater yields.
Erik Marsh has joined Kidder Mathews' Phoenix office as a senior vice president and he will specialize in the acquisition and disposition of investment properties.
Erik Marsh has joined Kidder Mathews' Phoenix office as a senior vice president, and he will specialize in the acquisition and disposition of investment properties, a release from the company stated.
SEATTLE-With dozens of new hotels opened in the past few years, several urban markets are reporting a decline in occupancy rates, according to a second-quarter report by Kidder Mathews.
While increased office leasing activity is scattered throughout the greater Sacramento area, the Highway 50 Corridor submarket is pushing forward, leading the area in activity with a reported 107,044 square feet leased in the quarter, according to a second quarter office report from Kidder Mathews.
Multifamily investment brokers, Jim Neil, Eric Comer and Merrick Matricardi represented the buyer in the transaction involving a 26-unit apartment building in Clairemont, Calif.
"Splunk is a fast-growing company and although they are based in San Francisco, they decided to take a chance in a major way on San Jose opening an office there," Chad Leiker, first vice president with Kidder Mathews, told the Mercury News.
A 26-unit apartment building at 4290 Mount Abernathy in Clairemont has sold for $6.9 million to Winslow Family LP, a local real estate investor.
The apartment building was built in 1980 and underwent an extensive, condo quality renovation in 2008. The sale price represented a 4.3% cap rate on in-place income and expenses. The property was the buyer's upleg of a 1031 Exchange. The asset offers the buyer secure in-place cash flow in a market that provides upside in rent achievement.
The Business Journal hosted the Commercial Real Estate Leaders' Breakfast in Bellevue on Aug. 2.
"Splunk is a fast-growing company, and although they are based in San Francisco, they decided to take a chance in a major way on San Jose opening an office there," said Chad Leiker, first vice president with Kidder Mathews, a commercial realty brokerage.
An 850,000-square-foot office campus at 3161 Olsen Drive near Winchester Boulevard and a now-closed domed movie theater in San Jose, visualization.A big office complex is planned for San Jose's iconic domed theater site, according to new plans that suggest the property's owner is charging forward to transform the choice location into a tech campus.
The Kidder Mathews team included Senior Vice Presidents & Partners Darren Tappen and Peter Beauchamp, as well as Vice President Matthew Ault.
When the City of Sacramento first approved commercial cannabis activities - beginning with recreational cultivation ordinances in November 2016 - the municipality was attempting to get ahead of operators with a proactive, regulatory framework.
A potential buyer has been found for the 67-acre Cadman Materials property near Boeing Everett, according to real estate industry sources.
Commercial real estate firm Kidder Mathews is marketing the property at 2250 S. Highway 395 with a website, www.hermistonfoodsproperty.com.
Benaroya Co. has a new tenant at South Hill Business + Technology Center in Puyallup. SEFNCO Communications, which makes and installs wire and fiber products, is taking 15,810 square feet for its new headquarters, with 90 employees. Matthew Hagen of Kidder Mathews represented SEFNCO. John Bauder of CBRE represented Benaroya.
Amazon's initial 2009 South Lake Union campus included 11 buildings totaling 1.7 million square feet. Now, the company has 8.7 million square feet, according to Kidder Mathews data from last fall, and plans to occupy an additional 4 million square feet in the city by 2020.
Ederer Properties II has completed the sale of a warehouse property located at 5825 NE Skyport Way in Portland. Adler Realty Investments acquired the single-tenant asset for $8 million.
Pathfinder Partners and Silvergate Development have acquired Little Flower Haven, the former site of a convent and senior retirement community in La Mesa, Calif. The 4.1-acre property previously closed in 2015 and will be transformed into a 130-unit apartment community. Construction is scheduled to begin in the fall of this year.
Rising rents, perpetually low vacancy rates and a shortage of available inventory across the region mean that the tight regional industrial market is set to be constrained for the foreseeable future.
James Kidder and Ted McCaffray of Kidder Mathews have listed the property for about a year, and it is now priced at $6.1 million.
Cypress West Realty Partners acquired the property for $4.4 million. The center features 15,038 square feet of medical office space. The seller was not disclosed.
Investment properties are proving a difficult sell because there's a gap between sellers and buyers, said Kidder Mathews senior vice president and partner Steve Tyrrell. There's also concern this economic expansion period is already running longer than average, and if a seller can't get the price he wants, he'll just pull a property off the market.
Pathfinder Partners has partnered with San Diego-based Silvergate Development to acquire a 4.1-acre former convent and seniors housing community in La Mesa for an undisclosed price.
A 31 percent year-over year increase in rental asking rates for Class A and B properties is putting the squeeze on local industrial tenants in Greater Reno-Sparks.
SEFNCO Communications Inc, a leading wireline / fiber deployment construction contractor with operations in several western states, announced today its plans to relocate its corporate headquarters in Puyallup to new larger space at The Benaroya Company's South Hill Business + Technology Center.
The Shops at Visalia Pavilion on West Caldwell Avenue consist of four separate multi-tenant pad buildings totaling 33,000 square feet. It is located within a larger WinCo-anchored shopping center.
Since 2010, over 4,000 multifamily units and 22,000 single family residential units have been delivered to the City of Redmond, with an additional 1,300 units currently approved and permitted.
Karl Abert of Kidder Mathews in Phoenix represented the buyer in the deal.
Kidder Mathews, a commercial real estate brokerage firm, has been selected to exclusively market the Redmond Technology Center, a 101,728 square foot, high-tech Class A office building located in the Redmond submarket of Seattle, Washington.
Kidder Mathews will market Redmond Technology Center, at 18300 Redmond Way, for its owners, Bethesda-based Ascentis Real Estate Partners and Dallas-based Transwestern Investment Group. The 10-year-old LEED gold building, with 101,728 square feet, last traded in 2016 for $30 million. KM's Andy Miller, Joe Lynch and Dan Harden have the listing.
The Class A office property is located in Redmond, Wash., which is part of Seattle's rapid expansion due in part to major tech companies expanding or relocating to the area.
Toor Capital purchased the four-building property. At the time of sale, the 33,000-square-foot asset was 95 percent occupied by a variety of tenants, including Starbucks Coffee, T-Mobile and Papa Murphy's Pizza.
Quest Civil Contractors, LLC, a Phoenix-based construction company, has leased 2,207 square feet for two years. The firm was represented by Eric Bell of Kidder Mathews in the transaction.
"There's over $1 billion of investment in the downtown area...you can see three cranes from I-5 in downtown Tacoma, which we haven't seen before. The last crane we saw was when the Columbia Bank Building was constructed around 20 years ago," said Will Frame, vice president with Kidder Mathews' Tacoma office. "The majority of this investment in down
Kidder Mathews has brokered the sale of The Shops at Visalia Pavilion, located at 3833, 3837, 3927 and 4015 W. Caldwell Ave. in Visalia. Toor Capital purchased the four-building property for $8.7 million.
Offering another perspective, Holly Yang, senior vice president at Kidder Mathews' office in Bellevue, Wash. emphasized how investment activity has shifted to targeting smaller prospects in the U.S. commercial real estate market.
The Redmond Technology Center is an office asset that is 101,728 square feet in size, and it is located at 18300 Redmond Way The second asset is the mixed-use site called City Center Redmond project, which is located at 16135 Northeast 85th Street.
On July 12, 2018, the Washington State China Relations Council launched the US-China Women's Leadership Forum, led by WSCRC board members Holly Yang, Sharon Sidoine and Annamarie Larson as Forum chair and vice-chairs, respectively. Approximately 50 attendees represented business and government professions.
San Diego was a very good place to be for industrial real estate during the first half of the year, according to a new Kidder Mathews report.
The region was particularly strong for landlords who own life science and R&D/biotech space.
In December 2017, Kidder Mathews Federal Way helped close a purchase deal worth about $4 million for the vacant lot at the northeast corner of South 320th Street and 1st Avenue South, located across from the Chamber of Commerce building. The vacant site currently includes homeless encampments.
Seattle's tech boom is making it tough for fast-growing companies like Outreach to find space. Real estate company Kidder Mathews reports that the percentage of vacant office space in the region hit a 10-year low in the second quarter, coming at 6.8 percent.
Kidder Mathews reports investment sales are strong too with 76 office building transactions in the second quarter of 2018 totaling $643 million, bringing the year-to-date total for the first half of the year to 155 transactions totaling $1.3 billion in total sales volumes.
A partnership between Thomas Pride International and Ecohouse Real Estate purchased Phoenician Villa Apartments, a seven-building asset comprising 93 units.
Phoenician Villa Apartments, located at 1545 West Camelback Road in Phoenix, Arizona, has sold for $5,500,000 to Thomas Pride International and ECOHAUS Real Estate, a real estate development and redevelopment company that focuses on the creation and renovation of urban infill sustainable communities.
The seller was Neilstate Investment Properties, LLC, a real estate investment partnership. Kidder Mathews multifamily investment broker, Karl Abert, represented Thomas Pride International and ECOHAUS Real Estate in the transaction, a press release states.
The 93-unit community offers a value-add opportunity to renovate and reposition the multifamily community in a growing area.
Thomas Pride International and Ecohaus Real Estate, a development and redevelopment company that focuses on the creation and renovation of urban infill sustainable communities, purchased a 93-unit multifamily complex in Phoenix from Neilstate Investment Properties. Phoenician Villa Apts. sold for $5.5 million, or approximately $60,000 per unit.
"If you're talking about a dream home ... that price seems to be very high," says Kidder Mathews appraiser Jeff Enright, based in Redwood City, Calif. "It's more supportive of condominiums or a townhouse development [or office or research facilities]."
Developed on 4.4 acres in 1971, the six-story Class B building has 115,575 rentable square feet, according to KM. Tenants include the Armed Forces Career Center, Kaiser Permanente, the city of Tacoma, Guild Mortgage and Western Commercial Mortgage.
Kidder Mathews has added Michael Dorsey and Stephen Madigan to its Orange County office, where they will oversee office leasing and sales transactions. Before joining the company, Dorsey and Madigan were with Coldwell Banker Commercial Advisors.
The 25 companies ranked on The List collectively occupy 44.3 million square feet of office space in the Puget Sound region, or more than 1,000 acres. The region includes King, Kitsap, Pierce and Snohomish counties.
This is according to Kidder Mathews' second quarter report, which was released Monday. Across the region the office vacancy rate declined from 7.2 percent in Q1 to 6.8 percent. That's the lowest in 10 years. Rents increased 3 percent quarter-over-quarter in Seattle and 1.7 percent on the Eastside.
Giovanni Napoli and Philip Assouad of Kidder Mathews represented the buyer and undisclosed seller in the transaction.
On Wednesday, June 20th, a medical office building in Tacoma sold for $11.625 million, or approximately $151 per square foot, according to public records filed with Pierce County.
About 3.2 acres in the Rainier Valley sold last Friday for almost $19.9 million, according to King County records. The sellers were four LLCs representing the Centioli family and others. Jason Rosauer and Rob Anderson of Kidder Mathews were their brokers.
Jeff Chancey and Alex Wheatley of Kidder Mathews represented the seller. The deal was worth $414 per square foot, according to KM.
A partnership of nonprofit Mount Baker Housing and private development company Lake Union Partners on Friday paid $19.9 million for a large, contaminated South Seattle property, where they plan to build around 700 housing units near the future Judkins Park light-rail station.
According to Will Frame in Kidder Mathews' Tacoma office who is the broker for the property, there are currently 2,500 square feet currently available on the sixth floor of the building.
Strength is coming from some large "blue chip" leases in new development projects.
Like many other communities that are one or two bubbles out of Seattle's white-hot rental market, Tacoma is seeing a huge benefit from the tremendous job growth up north. Rents have gone up and continue to go up from King County to Pierce, and even greatly affecting Thurston County.
The Tacoma office market has seen positive growth for over two and a half years, with market demand focused on the central business district, suburbs and medical offices.
Cini K. Apostol has been named SVP of operations for Kidder Mathews' Property Management Services in the Southern California and Southwest regions, based in Irvine, California.
Since the Best Workplaces program began 12 years ago, only two companies have made the Business Journal's lists every year: Columbia Bank and Kidder Mathews. They are among the 100 businesses represented on this year's lists, which can be viewed in the slideshow above.
Next Space Development Realty, a residential and multifamily development company, has purchased 25 on Fifth, an apartment complex, for $14.5 million. Located at 3265 Fifth Ave. in San Diego, the property features 25 apartment units.
The Phoenix Kidder Mathews healthcare team negotiated a deal that brought life back to a vacant space and closed another deal in which a medical back office was converted to a dental office at Biltmore Medical Mall, 2222 E. Highland Ave., in Phoenix.
"This is a brand-new marquee building in a great location right near the football stadium," said Craig Leiker, a first vice president with Kidder Mathews, a commercial realty brokerage.
Kidder Mathews' multifamily brokers, Eric Comer, Jim Neil and Merrick Matricardi, represented the buyer, a San Diego-based residential and multifamily development company. Acquisition equity was provided by Pacifica Companies.
NAIOP is offering a breakfast and a tour of Prologis' big new Georgetown Crossroads at 7 a.m. July 11 at Georgetown Ballroom, 5623 Airport Way S.
Panattoni Development Co. has completed the disposition of buildings A1 and B of the North Valleys Commerce Center (NVCC) in Reno. PRISM-IQ Nevada LLC and GOF Nevada LLC purchased the properties for $81.1 million.
The apartment building at 5101-5107 Narragansett Ave. was built in 1973. It is a three-story building consisting of 16 units made up of studios, one, two and three bedroom floor plans.
According to the news release, both buildings were completed in 2018 and are "state-of-the-art, cross-dock distribution facilities with best-in-class features including a 36-foot clear height and low cost LED lighting."
Sonic observes a limited schedule for its Monday opening - from 10 a.m. to 10 p.m. - and then kicks in a full schedule starting July 1 with hours of 7 a.m. to midnight, said Rune Harkestad, vice president of Kidder Mathews, a commercial real estate firm in Bellevue.
Sonic will do a limited schedule opening from 10 a.m. to 10 p.m. starting June 18 and then a full schedule starting July 1 with hours of 7 a.m. to midnight, said Rune Harkestad, vice president of Kidder Mathews, a commercial real estate firm in Bellevue, in a Tuesday email.
Kidder Mathews' Giovanni Napoli and Philip Assouad brokered the deal, which was worth about $144,000 per unit. KM also provided transaction details.
The sale was an absolute triple-net leaseback to the seller, Arciterra Cos., a real estate investment and development company. The property features 8,501 square feet of Class A office space.
Ms. Bennett stated the Camelback Corridor "has never been stronger in terms of lease rates and occupancy. The frequency of owner-users executing on the sale and leaseback option is likely to increase over the next several years," she said.
The Kidder Mathews team of Andy Miller, Todd Battison and Matthew Hagen represented the seller. The property was listed at $16.5 million. It sold for about $220 per rentable square foot.
The sale price works out to $27.58 per square foot. Land values in Pierce County typically range between $10 and $16 per square foot, according to a recent report from commercial real estate company Kidder Mathews.
The Kidder Mathews multifamily investment brokerage team included Executive Vice Presidents Jim Neil, Eric Comer, along with Senior Vice President Merrick Matricardi and Associate Bryan Calhoun.
Five years after acquiring the property for almost $11.8 million, Urban Visions has sold the Chromer Building, at 1516 Second Ave., for $32.5 million. King County recorded the sale on Wednesday.
Amazon occupies around 186,750 square feet in the building on a lease that expires in January 2025, according to commercial real estate company Kidder Mathews.
Kidder Matthews has arranged the sale of Rimrock Apartments, a multifamily community located at 8420 Buckland St. in La Mesa. Wyoming-based Joehnk LLC acquired the property from Rimrock LP and Partners LLC for $14.1 million.
Jim Neil, Eric Comer, Merrick Matricardi and Bryan Calhoun of Kidder Mathews represented the seller in the transaction.
Thad Mallory and Evan Lugar of Kidder Mathews represented the seller. The property had been listed for about three months, at $4.5 million.
Rimrock Apartments at 8420 Buckland St. has been sold by Rimrock Partners, LP and Partners, LLC to Joehnk, LLC of Wyoming.
Representing the seller were multifamily investment brokers Jim Neil, Eric Comer, Merrick Matricardi and Bryan Calhoun of Kidder Mathews.
Panattoni is also planning the separate Pacific Logistics North, at 756 Valentine. That 163,091-square-foot building is listed by Kidder Mathews' Thad Mallory, Todd Clarke and Cam Warren. A flyer says it should be completed next year.
The Eastside office market is set for activity in the coming months. According to a first quarter 2018 office market report written by Kidder Mathews, the Eastside market inventory currently stands at just over 50.5 million square feet, a figure that accounts for roughly a quarter of the total regional office supply.
The wider industrial market in the Puget Sound region, also, is in a state of change. According to a first quarter 2018 industrial market report written by Kidder Mathews, the vacancy rate for the region's industrial market rose to 3.3 percent, up from the figure of 3 percent posted in fourth quarter 2017.
"They have a lot invested," said Brian Hatcher, executive vice president of the Kidder Mathews commercial real-estate brokerage in Seattle. "Amazon has a bunch of people here already, they all have families and lives here. I just don't think they're going to pick up and leave, or scale back."
Kidder Mathews has arranged the sale of Casa Del Mar, an apartment building at 147 E. 18th St., Costa Mesa. Newport 18th Partners acquired the 16-unit property from a private trust for $6.4 million.
Kidder Mathews Senior Vice President & Partner Merrick Matricardi, Executive Vice President & Partner Jim Neil and Executive Vice President & Partner Eric Comer, as well as ACRE Senior Director Dylan Wright and Senior Associate Chris Saver, represented the buyer.
According to a new report from The San Jose Mercury News, Apple is further increasing its presence in Santa Clara, California. The report, citing public records, says that Apple has leased a 62,000-square-foot building and is heavily renovating the space...
"This really shows that Apple has decided that Silicon Valley is where they can find the best talent," said Chad Leiker, a first vice president with Kidder Mathews, a commercial realty brokerage. "This is where they want to be."
"It's a great location for the association," said David Sass, a senior vice president with Kidder Mathews. "It has excellent freeway access, and it's the center of their universe."
Kidder Mathews' multifamily brokers Steven C. Brombal and Joshua Y. Rhee represented both parties in the transaction. Casa Del Mar, at 147 East 18th St., had not changed hands in its nearly 60-year history.
Marketwide, multifamily rental vacancy in the first quarter of this year was 6.4 percent, down from 6.8 percent the previous quarter, and the same as a year earlier. Asking rents averaged $985 as of Q1 2018, compared with $940 a year earlier, for nearly a 5 percent increase.
According to commercial real estate brokerage Kidder Mathews, Amazon has signed leases and is building towers totaling 13.3 million square feet in the region, the vast majority in Seattle.
Kidder Mathews has arranged the sale of Casa Del Mar, an apartment building located at 147 E. 18th St. in Costa Mesa. Newport 18th Partners acquired the 16-unit property from a private trust for $6.4 million.
The Bank of America Financial Center, a 288-foot-tall office tower built in 1981 at Riverside Avenue and Howard Street, was listed for sale Wednesday morning, according to Jason Rosauer, senior vice president and partner with Seattle real estate company Kidder Mathews, which represents the building's owner, Unico Properties.
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A 24-unit apartment complex in the Point Loma Heights neighborhood sold for $7.7 million.
"This is a rare opportunity for an investor or owner-user to capitalize on Oakland's ranking as the tightest office market in the nation," said Kidder Mathews' Jeffrey Hutchins, who along with David Wientjes of Kidder Mathews and Judy Chu of Goldenland Investments are serving as exclusive agents for the undisclosed seller.
From big industrial deals to blockbusters multifamily transactions to continued interest in the Valley's urban core, Metro Phoenix brokerage firms have had a lot to celebrate since things started turning around after the Great Recession.
"This is a rare opportunity for an investor or owner-user to capitalize on Oakland's ranking as the tightest office market in the nation," said Jeffrey Hutchins, first vice president with Kidder Mathews.
Kidder Mathews Senior Vice President Eric Comer, Executive Vice President Jim Neil and Senior Vice President Merrick Matricardi represented the buyer, while Scott & Quinn Real Estate Owner Broker Jim Scott represented the seller. Altas Management Group will be managing the property.
From parking to dense urban development to industrial access, developers across asset classes are innovating their approach to transportation.
Ross Klinger and Tim Foster with Kidder Mathews' Seattle office are the brokers for the property. According to Foster, the PSF sales price was a record for Georgetown.
Kidder Mathews Senior Vice President Eric Comer, Executive Vice President Jim Neil and Senior Vice President Merrick Matricardi represented the buyer, while Steve Huffman and George Mazis acted as principals in the negotiations.
"Attracting and retaining the next generation of talented professionals," is the top priority for Keith Kaiser, executive vice president of property management at Kidder Mathews.
The buyer was George Mazis of the Mazis Family Trust, represented by Kidder Mathews' multifamily brokers Eric Comer, Jim Neil, and Merrick Matricardi.
Ranked by Square feet of commercial property managed in the Portland metro area
Just over 570,600 square feet of new space was delivered in the first quarter while absorption, or the amount of new space that companies moved into, was in negative territory. This was surprising given robust leasing activity. Appraiser Randy Gilliam of Kidder Mathews thinks it's an anomaly caused by timing.
Class-A asking rents were above $70/SF during the quarter. Some creative office landlords have pushed rents up 5% to 7% within the last 12 months, according to a report from Kidder Mathews. Class-A full-serviced rents ranged from $60/SF to over $100/SF along Market Street depending on the level and building type.
The Puget Sound region's appetite for office space and multi-family housing is driven by the region's job growth in the technology sector. The region's office vacancy rate dropped down to 7.15 percent in the first quarter, versus 7.74 percent in Q4 2017, and apartment vacancy rates are about 3.9 percent, according to research by Kidder Mathews.
Kidder Mathews' team of Jason Miller and Damian Sevilla signed Mod Pizza for space in Urban Visions' 200 Occidental, which is Weyerhaeuser's headquarters in Pioneer Square.
Crystal Creek was represented exclusively by Joel Fountain, industrial specialist at DCG. Dave Simonsen of Kidder Mathews represented the landlord.
Madison Investors was represented in the West Seattle transaction by Giovanni Napoli, Philip Assouad, Ryan Dinius and Sid Warsinske of Kidder Mathews' Seattle multifamily team.
Brewery operations will apparently end on the Woodinville property. When Kidder Mathews sold it, the property was described as having "two state-of-the-art buildings totaling 129,203 square feet."
"We are in new territory," said Chad Leiker, a first vice president with Kidder Mathews, a commercial real estate firm. "I haven't seen anything like this. This may have been what it was like when Silicon Valley was starting up in the 1970s and 1980s."
With more than 30 years of industry experience, John Austin contributed to the development of several major shopping centers, while also negotiating more than 800 transactions.
Greater Phoenix has been a hot apartment market since the end of the recession, supported by an influx of jobs and population in recent years. Kidder Mathews reports that during the first quarter of 2018, metro Phoenix asking rents were up 4.79 percent compared with a year earlier.
Designed by Craft Architects, LogistiCenter at Woodinville will comprise two buildings totaling 409,500 square feet. Kidder Mathews is marketing the property on behalf of the developer.
Hunt Mortgage Group has provided two Freddie Mac Small Balance Loans totaling $7.5 million for the refinancing of two Seattle-area communities, totaling 86 units. Glenn Gioseffi, first vice president & partner at Kidder Mathews, sourced the loans.
Kidder Mathews reported that countywide vacancy rates in the first quarter of 2018 averaged 4.4 percent, a record low which the firm said was holding from the end of 2017.
Chris Corr and Peter Wooding with Kidder Mathews are in charge of leasing phase four, which consists of a 266,000-square-foot warehouse and a 246,000-square-foot warehouse.
"Tenants are surprised with the rapid ascension of rental rates throughout the marketplace with both new deals and companies renewing within existing spaces," Simonsen says. "There is far more demand coming into the market than there is supply. Throughout 2016 and 2017 we had the supply available to meet demand, but with the new drop in vacancy we
Kidder Mathews' Giovanni Napoli, Philip Assouad and Ryan Dinius represented the seller. The purchasing LP, led by an experienced California real estate executive, apparently had no representation.
Developed on 37,307 square feet of land in 1987, the two-story Romero Professional Building has 9,744 square feet. Current tenants include several medical service providers. It's about 91 percent occupied, according to leasing agent Kidder Mathews.
Silver Cloud was founded in 1980 by Jim Weymouth, who signed the ground lease with PPC. It has 10 hotels, including a U Village location at 5036 25th. One hotel is in development at Port Ruston in Tacoma and another on the Jiffy Lube site at 2033 Fourth Ave. in Belltown.
Glenn Gioseffi of Kidder Mathews arranged the Freddie Mac Small Balance loan, which features a five-year term, 30-year amortization schedule and a hybrid-adjustable interest rate. A hybrid-adjustable rate mortgage (hybrid ARM) is where a loan's interest rate is fixed for an established amount of time and then transitions to an adjustable rate.
The brokers on the deal were Giovanni Napoli, Philip Assouad, Ryan Dinius, and Sid Warsinske of Kidder Mathews' Seattle multifamily team. According to Assouad, Madison Investors LP acquired the property as part of a 1031 Exchange.
Roger Thorn and Brian Adams of Kidder Mathews are marketing the space. Both buildings are available. Rates were not disclosed.
Hunt Mortgage Group, a leader in financing commercial real estate throughout the United States, announced today it provided two Freddie Mac Small Balance Loans in the amount of $7.5 million to refinance two multifamily properties located in the Seattle, Washington area.
The loans were sourced by Glenn Gioseffi at Kidder Mathews.
The vacancy rate for industrial projects across the Puget Sound region is down to 3 percent - lower than the apartment or office vacancy rates, according to Kidder Mathews. Rents continue to rise, as well.
Outdoor Research Inc., a 37-year-old outdoor gear manufacturer in Seattle's Sodo district, has leased a large amount of space at Des Moines Creek Business Park, the park developer said Tuesday.
The location is approved for up to 6 million square feet of development and is being marketed as an "urban neighborhood" development opportunity called "Uptown at Warner Center." It is being handled by the marketing team of Binswanger, Realty Advisory Group Inc., and Kidder Mathews.
Hartford, Conn.-based United Technologies has been marketing the property for sale through Realty Advisory Group Inc., Kidder Mathews and Binswanger.
Kidder Mathews' multifamily investment brokers Eric Comer, Jim Neil and Merrick Matricardi represented both parties.
Evan Lugar of Kidder Mathews represented the seller. The property had been on the market for about three months. The deal was worth about $148 per square foot.
The Pierce County industrial market has a vacancy rate of just 2.7 percent, according to real estate company Kidder Mathews. Eleven projects are under construction. The developments total nearly 3.6 million square feet, or more than half of the region's 6.1 million square feet of development.
Kidder Mathews commercial real estate broker David Crabb, along with Don Mitchell of Cresa, represented TrellisWare.
The 164-unit College Glen Apartments is an affordable community located in Thurston County, an area experiencing one of the highest rent growths in the region.
The San Francisco Peninsula office market still has very strong demographics. The region's vacancy dropped by 40 basis points from the end of 2017, as stated by Kidder Mathews. The vacancy in the market is now at 9.4 percent. The overall average rental rate rose in the first quarter to $4.97 per square foot fully serviced.
Kidder Mathews announced last week that it sold the College Glen Apartments, at 4870 55th Lane S.E. in Lacey, for $19.3 million.
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The Tacoma-based firm paid $1.04 million for the three-story 1912 building downtown, according to Brian Richardson, a multifamily investment broker with Kidder Mathews who represented Premier. Linn Larsen of Linn Larsen Real Estate represented the seller, Stephen Pfeifer.
Shelter Resources has acquired the 164-unit College Glen Apartments in Lacey for $19.3 million. The community is located at 4870 55th Lane SE. It was built in1996. College Glen is a low-income housing tax credit property. The community contains a playground, community center and indoor sports court. The seller was College Glen Apartments LP.
College Glen Apartments, an 164-unit complex in Lacey, has sold for $19.3 million, according to the commercial real estate company Kidder Mathews.
Now new owner Premier Residential plans to offer "micro units" with full bathrooms and small kitchens, according to a news release from real estate firm Kidder Mathews. Agent Brian Richardson represented the buyer.
Robert Thornburgh, Tom Holland and Jon Reno received honors for the biggest deal by dollars in Los Angeles in 2017 for the $47 million sale of the Downey Industrial Center, a 29-acre property at 9400 Hall Road in Downey.
The company sold several assets in both Poway and Azusa, Calif., totaling more than 520,000 square feet, with the help of CBRE, Colliers International and Kidder Mathews.
Kidder Mathews represented the seller in its disposition of the 68,290-square-foot Swift Gateway, a Class A property in Bellevue.
Dick's Drive-In, founded in 1954, was represented in the transaction by Jeff Kraft and Cramer Foster from Kidder Mathews' Tacoma office.
The sales prince of $17.4 million, or roughly $174,000 per room, for the Holiday Inn Express in Marysville is slightly less than the average posted in 2017, according to a fourth quarter 2017 hotel market report written by Kidder Mathews.
Mickey Morera, executive vice president of Kidder Matthews, and Ted Cuthbert, senior executive vice president with Colliers International, represented both parties.
Dick's wanted a spot near high schools and colleges and worked with Kidder Mathews brokers Jeff Kraft and Cramer Foster, who homed in on the previously announced site in Kent. The property is across the highway from Highline College.
Kidder Mathews Senior Vice President Joe Lynch said the suburban office market continues to attract significant interest from investors, who can achieve higher yields compared to assets in downtown Bellevue. Lynch brokered the deal with Kidder colleague Andy Miller.
Karl Abert has more than 25 years of real estate experience. In his new role, he will be in charge of coordinating investment brokerage, banking and structured loans.
Laura Fox and Doug Klein of Kidder Mathews represented the seller. The property had been on the market for about 10 months. KM listed it at $6.7 million. Public records indicate a loan from Heritage Bank to the buyer.
David Crabb of Kidder Mathews worked alongside Don Mitchell of Cresa to secure space for TrellisWare Technologies in the recently renovated building.
Brokers at Kidder Mathews said the technology company has signed a nine-year lease for 72,331 square feet at 10641 Scripps Summit Ct. in the Scripps Northridge Corporate Campus. Financial terms were not disclosed.
Metropolitan Seattle attracted its share of investor interest in 2017, even with a market forecast that doesn't exactly include any record-breaking statistics. 'The year 2017 likely will mark the peak of the current business cycle for hotels in Western Washington,' according to a report by commercial real estate services firm Kidder Mathews.
Kidder Mathews Executive Vice President and partner Craig Leiker told the East Bay Times the 1001 North Shoreline Blvd. building is in the path of Google's expansion and could be bought in the future.
Mike Haenel, Andy Markham, Will Strong and Phil Haenel of Cushman & Wakefield brokered the transaction on behalf of ViaWest Group and Aric Adams of Kidder Mathews represented PODS.
The Portland Business Journal asked about two dozen brokers to offer names and addresses of Portland buildings about which clients ask the most
Excluding national portfolios, resorts, and potential tear downs, there were 23 sales of hotels in King, Pierce, and Snohomish Counties at prices exceeding $2 million last year, according to a fourth quarter 2017 Seattle Hotel report written by Kidder Mathews. The aggregate transaction volume was $415 million, and with 2,005 guest rooms, the weight
According to Damian Sevilla, vice president with Kidder Mathews' retail sales and leasing team who worked on the leasing of Thornton Place, a mixed-use apartment and retail complex adjacent to the Northgate Mall, the light rail will serve as a positive evolution of the current transportation system.
"This is in the path of Google's expansion, so it's entirely possible that they would exercise their right at some point to buy the building," said Craig Leiker, an executive vice president and partner with the San Jose office of Kidder Mathews, a commercial realty brokerage.
A team from Kidder Mathews, including Peter Stalick, Steven Klein and Patricia Loveall, are marketing the property for Specht.
"The supply of industrial space continues to shrink on the Peninsula as buildings are demolished for higher and better use," said Mark Melbye, a broker with Kidder Mathews who represented the buyers in the purchase and is handling the leasing efforts.
The seller was a private investor. Kidder Mathews' multifamily brokers, Steven C. Brombal and Joshua Y. Rhee, represented both parties in the transaction.
Waterford Residential LLC has acquired Dover Shores Apartment Homes, an 18-unit community in Newport Beach, Calif., for $8 million. Kidder Mathews represented the seller, a private investor, as well a
This is the first time the property has been on the market in 42 years. Assets of this size are unique in Newport Beach, and rarely become available.
According to Kidder Mathews, more than 4.1 million square feet of space were leased in 2017. Rental rates were up more than 5 percent to an average of $25.88 per square foot, though rents north of $30 per square foot are quickly becoming the norm.
The Eastside market has been active over the last several months. According to a fourth quarter 2017 Real Estate Market Review report written by Kidder Mathews, the Eastside office market ended 2017 with inventory totaling just less than 50.5 million square feet.
David Hill has joined Kidder Mathews as a senior vice president. He will specialize in investment sales for the firm. Hill has more than 30 years of commercial real estate experience; he previously served as president of NAIOP's Oregon chapter.
As Amazon and others seek distribution centers near Seattle, the close-in Seattle industrial vacancy rate is around 1.6 percent, according to Kidder Mathews' fourth quarter report.
Wendy Hill has joined Kidder Mathews as a vice president. She will specialize in investment sales. Prior to joining the firm, she worked with Newmark Knight Frank's capital markets group.
Susan Zimmerman, a senior vice president at Kidder Mathews, said the annual asking rate for some downtown Seattle retail spaces is up to $90 a square foot. Prices for retail space in downtown Seattle and Bellevue Square are the highest in the region, she said, though stores that take large blocks like PCC is leasing typically get a discount.
A native Oregonian with 37 years of experience in the industry, Steven Klein established Kidder Mathews' Portland office nearly 15 years ago. It was the fifth outpost for the Seattle-based firm which now has 21 offices up and down the West Coast.
The 102,859-square-foot asset, located in East Los Angeles/Boyle Heights, traded to Maple DTLA LLC, a local apparel company and investor.
A Kidder Mathews team led by Mike Ciosek, Eric Bell and Dylan Scott negotiated the deal for the 50,000-square-foot building.
The year is off to a good start for revenues at the Port of Port Townsend, the port's director of finance, Abigail Berg, has told commissioners.
As industrial rent continues to soar in the LA Arts District, apparel companies are acquiring property outside of downtown Los Angeles.
A report from Kidder Mathews shows that vacancies in eight of 12 major markets were down at year-end 2017 compared to 12 months earlier. The current construction pipeline in seven of those 12 markets is fuller on a year-over-year basis, flat in three others and down in only two. Meanwhile, asking rents are up Y-O-Y in nine of the markets.
One of BOMA's most significant roles is to provide guidelines or standards on how a commercial office building or specific suite should be measured. Most office leases on the West Coast reference BOMA measurement standards within the lease language as a standard for measurements.
A new way of measuring office space means rents will rise for some tenants, commercial real estate brokers say.
Pristine Auction has completed construction on a 37,000-square-foot industrial facility at Spectrum Ridge Business Park in Phoenix. The facility is situated at the southeast corner of 7th Street and Deer Valley Road.
Totaling more than 250,000 square feet, the three buildings in the city's Black Canyon Corridor submarket fetched a sale price of nearly $35 million.
ViaWest Group has purchased three buildings at Blackhawk Corporate Center in Phoenix for $34.2 million. The buildings are located at 20401 N. 29th Ave., 2902 and 3010 W. Agua Fria Freeway. The complex was built in 1997 and 1998.
The greater Seattle industrial marketplace is a perfect storm of virtually no land supply, booming industry and a hedged market dynamic. A comparison with the prior peak of 2007 is remarkable.
ViaWest Group, a Phoenix-based commercial real estate investment, development and services firm, has purchased Blackhawk Corporate Center I, II and III for $34,250,000. The seller was Cohen Equities, NY, LLC, a commercial real estate investment management company.
The Puget Sound region's multifamily market is hot, and another apartment complex just north of Renton recently changed hands.
A local owner taking title as V.H.R. Co. LLC purchased The Arthur, a 50-unit multifamily building at 726 S.W. 11th Ave. in downtown Portland, OR, from another individual investor for $7.6 million, or approximately $152,000 per unit.
Commissioner Peter Hanke said the WWU study would be "quite lacking" compared to what Kidder Mathews would do, as he thought Kidder Mathews knew how to determine land values. Determining the value of port land would help the port set its prices, he said.
Lindal Cedar Homes has sold its highly visible Tukwila property, right next to Interstate 5, to Mutual Materials for almost $2.7 million. Kraig Heeter and Patricia Loveall of Kidder Mathews represented Lindal. They will find a new location for Lindal, which will lease back the site for a year.
Seattle Business magazine gave Kidder Mathews Chairman and CEO Jeff Lyon an Executive Excellence Award. KM said in a statement that Lyon merged his Lyon Commercial with KM in 1991, and it has grown from four offices and 150 people to 21 offices in five states with over 700 employees.
Kidder Mathews expanded its Orange County brokerage team with the addition of Rick Putnam who joins as senior vice president. He joins from Colliers International, and will specialize in industrial and office investment sales throughout the West Coast.
"My opinion on the WWU survey is that their experience is quite lacking to Kidder Mathews in terms of what Kidder Mathews has in place," he said. "What we're really looking for is a market determination of what our lease rates are going to be."
Ross Klinger of Kidder Mathews and Tyler Litzenberger of Vector Real Estate represented the seller. Yue Wu of AgencyOne and Ava Bao of CB Commercial Realty represented the buyer.
Kidder Mathews Senior Vice President Merrick Matricardi, Executive Vice President Jim Neil and Eric Comer represented the buyer, Gordon Reese, a private investor who owns approximately 200 apartment units in the San Diego area.
Kidder Mathews' Skip Whitney, Eric Bluestein and Rodney Moreschini represented Nio in securing that lease. CBRE's Christian Marent and Bob Steinbock represented the then-building owner KBS, past Business Journal reporting shows.
Kidder, the West Coast's largest independently owned commercial real estate company and the second-largest overall firm in the Puget Sound region, recruited three veteran brokers from rival JLL to open the office, its eighth in Southern California.
Kidder Mathews opened up a new office in El Segundo, CA, and continued its SoCal expansion by recruiting a top brokerage team from JLL. Veteran industrial real estate team, Luke Staubitz, Harvey Beesen, and Andrew Dilfer joined the firm in its new El Segundo office.
Kidder Mathews Chairman and CEO, Jeff Lyon, has been named a CEO of the Year by Seattle Business Magazine as part of their 2018 Executive Excellence Awards. The awards gala was recently held at the Fairmont Olympic Hotel in Seattle.
With Starbucks opening a new store in China every 15 hours, the company's reach is dramatically expanding, said real estate broker Holly Yang, the head of Kidder Mathews' China Services group in the Puget Sound region.
Kidder Mathews's Todd Battison and Ken Hirata negotiated the deal on behalf of the buyer, while Andy Miller, Matt Hagen and Battison represented the seller. Earlier this year, the firm also brokered the sale of a 19,500-square-foot San Diego industrial building.
Veteran industrial real estate team, Luke Staubitz, SIOR, Harvey Beesen, SIOR, and Andrew Dilfer, GLS, have joined Kidder Mathews' new El Segundo office where they have been named executive vice presidents and partners in the firm.
Smartcap, a commercial real estate investment company, recently purchased Quadrant I-5 Corporate Park, Building A, for $14.4M from Shelby Co. LLC.
The company added Quadrant I-5 Corporate Park, Building A, the two-story, 74,974 square foot on 134th Street in south Everett. The same firm purchased Building B at the corporate park in September for $12.5 million.
During 2017, and excluding national portfolios, resorts and potential tear downs, there were 23 sales of hotels in King, Pierce, and Snohomish Counties at prices exceeding $2 million, according to a fourth quarter hotel market report by Kidder Mathews.
The two-story, Class A office building is located at 738 134th Street SW in Everett, Washington. The building sold at a 7.2% cap rate, and was 87% occupied.
Despite several givebacks during the past three months, the vacancy rate was 3.5% market-wide at year's end, and virtually all submarkets were well below 5%, according to a fourth-quarter report by Kidder Mathews.
On Wednesday, January 31st, Orange County, California-based Investment Property Group added two assets to its Washington portfolio.
Giovanni Napoli and Philip Assouad of Kidder Mathews represented the seller in the transaction.
Massachusetts-based Analog Devices, a maker of integrated circuits, said it has leased an office building at 2555 Augustine Drive and another at 2565 Augustine Drive. Both buildings are in the Santa Clara Square project, near the interchange of U.S 101 and Bowers Avenue.
San Diego-based Westcore Properties signed a lease with Skechers USA, Inc. to take the entire 366,700-square-foot industrial building at 22705 Newhope St. in Moreno Valley, CA. The three-year lease is valued at $5.57 million.
After purchasing the property in August, Westcore Properties signed Skechers USA, Inc. to occupy its entire 365,000-square-foot industrial building, located at 22705 Newhope St. in Moreno Valley, California. The three-year lease is valued at $5.5 million.
"It's kind of a land grab to acquire what product is available, especially in desirable areas like Palo Alto," said Chad Leiker, a first vice president with Kidder Mathews, a commercial realty firm.
Year-end and fourth-quarter market reports from Broderick Group, Colliers and Kidder Mathews provide generally rosy assessments - plus a few hints about 2018 and beyond.
Tenants, companies who own spaces and some forward-thinking developers and landlords willing to spend money are opening up floor plans and offering modern spaces modeled after technology companies, ad agencies, and even restaurant spaces.
"This landlord has been waiting quite some time to find the right tenant to kick off their project on the other side of the airport," said Chad Leiker, a first vice president with Kidder Mathews, a commercial real estate firm. "This appears to be a big win for them and for San Jose."
It has been previously occupied by a five-and-dime, carpet warehouse, and a skateboard shop before Powell bought and rehabbed the building in 2006. Interested parties may contact Chris Corr of Kidder Mathews at 206.248.7324.
We recently spoke with the Kidder Mathews Seattle multifamily team-which consists of Giovanni Napoli, Philip Assouad, Ryan Dinius and Sid Warsinske-about current market trends in Seattle and the greater Puget Sound region, and what the team foresees for the year ahead.
"Cisco has peeled off a lot of buildings in recent years," said Craig Leiker, a first vice president with Kidder Mathews, a commercial realty brokerage. "They have been selling a lot of properties."
"This building is a showpiece for Visa in a great area of the South Bay," said Chad Leiker, a first vice president with commercial realty brokerage Kidder Mathews.
Kidder Mathews has doubled the number of brokers in its Southwest division to 100 since the end of 2016, behind the steady leadership of San Diego's Mark Read.
Conrad said he bought the property in 2014. At the time, he paid about $5 million. Later that year, Conrad sold a Stonelake Landing parcel containing a Carl's Jr. separately from the property for $2.125 million.
Bruce Wirt, of Kidder Mathews, represented the buyer for Stonelake Landing.
The seller was Shooting the Moon II LLC, which is associated with both Kidder Mathews and members of the Ross family. That LLC acquired the property from various members and trustees of the Ross family in early 2016 for $4.8 million. The Ross family had owned the property since the early 1960s. Corey Sollom of Kidder Mathews represented the seller.
Kidder Mathews wrote in its fourth-quarter report that Amazon was rumored to be leasing the office portion of the 162,000-square-foot building.
The deal shows Amazon still has an appetite for office space in Seattle as it decides where to build a second headquarters somewhere in North America.
According to a third-quarter 2017 report from Kidder Mathews multifamily investments group-the most recent available-regional apartment market vacancy rate is currently 3.9 percent, a figure well below the 20-year average of 4.9 percent. This figure is up from 3.4 percent stated in the spring 2017 report.
The park was developed in stages from the 1950s to 1980s and has three buildings with about 62,000 square feet. Tenants include Compass Aerospace Northwest and SeaLect Products. However, public records indicate a termination of the Compass lease.
Work on the 1818 Fairview Ave. E. project began in the fourth quarter, according to a new report from real estate company Kidder Mathews.
Frazier has been in the commercial real estate industry for nearly 10 years. During that time, he has closed more than $250 million in transactions. Prior to joining Kidder Mathews, he was with Marcus & Millichap in their Sacramento office.
The roughly 20,000-square-foot industrial building is located within the Greater San Diego area. Kidder Mathews negotiated the transaction on behalf of the buyer, a local private investor.
Kidder Mathews, a Seattle-based commercial real estate firm, reports average rents for downtown Portland (including the Pearl and Old Town) office buildings are rising quickly and vacancy rates would be hard-pressed to get much lower.
Reed Payne, executive vice president and partner in the Northern California and Nevada brokerage for Kidder Mathews, has earned his Executive Management Specialists designation from the organization.
Kevin Joshi, a senior vice president and partner with Kidder Mathews, is handling the office leasing for the project. He also tended to the leasing for Pearl West, another new office project from BPM, which sold this summer for $87.5 million.
Scaling Up Excellence has already received a wide range of support from the Seattle business community at large including contributors such as Cascadia Capital, Silicon Valley Bank, Wilson Sonsini, Ernst & Young, Kidder Mathews, New Engen, Gumball Enterprises, Altus Alliance, Swift HR Solutions, CFO Selections, and Fuel Talent.
Speers and colleagues Ross Klinger and Tim Foster say H5 Capital will sell the site with a full master-use permit approval for a tower with 433 residential units, which could be apartments or condominiums. The buyer also could incorporate a hotel into the project, the brokers said.
A Mira Mesa industrial building has been sold for $2.7 million.
James Duncan and Mickey Morera of Kidder Mathews represented the seller.
The Port of Port Townsend is considering hiring an outside consultant to determine how to price lease rates, yard rates and other rates so the port can both cover its costs and compete with other ports in the market.
If there has been one obvious newcomer to Portland's commercial office market this year, it's WeWork, says Kevin Joshi, senior vice president and partner at real estate firm Kidder Mathews.
The 10-story office tower offers a mix of traditional and creative space, with views of downtown Portland. The building is 87 percent leased to nine tenants.
The Bavarian Meats building, at 2934 Western Ave. in Belltown, has sold for $3.4 million, according to King County records.
Avison Young Principal Stan Nowak and Associate Cody Lerner, who are based in the company's San Diego office, represented the seller, a local investment company. The buyer, a private investor, was represented by Kidder Mathews.
The new Apple Park complex seems destined to be forever intertwined with Apple's history and the life of the company's co-founder, the late Steve Jobs, said Chad Leiker, a first vice president with Kidder Mathews, a commercial realty firm.
The six-building property is located in the city's northern suburbs and provides more than 200,000 square feet of office, lab and logistics space.
According to David Vanoncini, a senior vice president and managing partner at commercial real estate brokerage Kidder Mathews, Google has also extended its interest to several Sunnyvale owners to its properties.
The company expanded its capabilities in the region by tapping Bob Woods, the new SVP having more than 25 years of specialized industrial real estate experience.
Bob Woods has been named senior vice president of Kidder Mathews' Inland Empire office in Ontario, Calif. Meanwhile, Kidder Mathews has hired Michael Neil as a first vice president in its San Diego office, and is charged with the sale and leasing of office properties.
The tech titan has approached multiple Sunnyvale property owners with an interest in obtaining their properties, according to David Vanoncini, a senior vice president and managing partner with commercial realty brokerage Kidder Mathews.
Andy Miller, Todd Gauthier and Jason Bloom of Kidder Mathews represented the seller. Buyer representation could not be confirmed.
Kidder Mathews expanded its brokerage team in San Diego with the addition of Michael Neil. He brings more than 18 years of commercial real estate experience, most recently with Coldwell Banker Commercial in Glendale, CA, where he was a top 10 producer.
The HFF investment advisory team representing the seller included Michael Leggett, Dave Otis, Logan Greer and Kevin Freels. Joe Lynch and Dan Harden from Kidder Mathews provided leasing market expertise on the transaction.
"This is a big purchase, and it makes sense that there is foreign money or money from outside the Bay Area coming in here," said Chad Leiker, a first vice president with Kidder Mathews, a commercial realty brokerage. "There is worldwide pent-up demand for Silicon Valley properties."
"When it comes to commercial buildings like this... it's important to consider a development in its specific context. We wanted to create an environment that was an 18-hour experience; it's important to create a vibrancy at ground-plane. WSECU saw that vision as well," said Kyle Gaffney, project designer with SkB Architects
Twenty one condos there were destroyed in a fatal fire in 2016, and the homeowners decided to sell the land rather than rebuild.
Today, depression affects 1 in 10 Americans and more than 300 million people worldwide. More than 80 percent of people with clinical-depression symptoms are not receiving treatment. That's an alarming statistic, particularly when you consider that the number of people diagnosed with depression increases by about 20 percent a year.
Sean McNamara has joined Kidder Mathews' Portland office as a vice president. He will specialize in sales and leasing of industrial properties throughout the Portland metropolitan area. Prior to joining Kidder Mathews, McNamara served Capacity Commercial Group.
Columbia West Properties Sells Bel-Red Building
Evan Lugar, a partner with commercial real estate firm Kidder Mathews, said it is not surprising breweries and tap rooms are struggling to find space.
The vacancy rate in South Seattle and Georgetown for industrial space, for example, is at a historical low with 14 quarters under 2 percent, he said.
Brookfield Property Partners, one of the world's largest real estate investors, is funding a new 333-unit apartment project in Oakland.
Mary's Gone Crackers headquarters, a Class A manufacturing and distribution center, has sold for $29.5 million. The facility is part of the 1.48 million square foot Phase I of North Valleys Commerce Center, located at 9460 N. Virginia Street in Reno, Nevada.
Mike King, Erik Swanson, Jason Miller and Damian Sevilla of Kidder Mathews represented the sellers. The KM listing says the 32,370-square-foot space is now fully leased by Atlas Workbase, which last month announced an expansion there.
Starwood Capital Group has extensive renovation plans for Wells Fargo Center to bring it back to its former status as one of the most iconic Class A office towers in Portland. CBRE and Kidder Mathews will lease the tower.
The brewery is working with Portland architecture firm Koble Creative and the design-build contractor Deform NW on the new space. Josh Bean of Ethos Commercial Advisors represented Migration in the deal, while Steven Klein of Kidder Mathews represented the building owner, Lincoln Property Co.
Sponsors for this year's Empty Bowls event include Heartland Express, Whole Foods Market Chambers Bay, Coordinated Care, HomeStreet Bank, Inn at Gig Harbor, Johnson Stone and Pagano, Kidder Mathews, Panattoni Development, UFCW Local 367, and Zack Rosenbloom & Associates.
Gary Guenther, a senior vice president and partner of Kidder Mathews, Dan Duke of US Trust and keynote Joe Quinlan, the chief market strategist of Bank of America, also spoke at the event, which had 350 in attendance, including Bellevue City Councilmember Kevin Wallace, and Bellevue City Council members-elect Janice Zahn and Jared Niewuwenhuis.
The Society of Industrial and Office Realtors (SIOR) installed Kidder Mathews' Robert G. Thornburgh as 2018 President-Elect. The installation took place during the recent SIOR Fall World Conference in Chicago. Thornburgh will assume the presidency of SIOR in Fall 2018.
Starwood Capital Group, a leading global private investment firm, announced today that it has acquired through affiliated funds, Wells Fargo Center; a 40-story skyline office tower and an adjacent five-story former data processing building which together comprise more than 725,000 SF of Class A and creative office space in downtown Portland, OR.
Leasing DCT Monster Road should not be a problem. In its recent third quarter market report, Kidder Mathews said the industrial vacancy rate in this region rose slightly to 3.3 percent.
The Mary's Gone Crackers headquarters, manufacturing and distribution center was sold to LBA Realty for $29.5 million.
Tucson's multifamily market is maintaining its hot streak as investors continue to snap up properties - a trend that began last year.
Corey Sollom of Kidder Mathews represented the seller. Excluding the value of the building, the deal was worth about $841 per square foot.
Chad Leiker, chief vice president of commercial real estate brokerage firm Kidder Mathews, said: "Silicon Valley is also a hot spot for investors and Asian investors still consider the area a starting point for innovation and buying real estate."
Kidder Mathews commercial real estate brokers Robert G. Thornburgh and Tom Holland represented both the seller and Prologis in the transaction.
Downey Industrial Center, a 29.16-acre industrial site in Downey, was acquired by Prologis Inc, the multinational logistics real estate investment trust. The seller was Downey Industrial Center LLC.
Prologis Inc acquired the 29.2-acre site from Downey Industrial Center LLC. Kidder Mathews will continue to be the manager of the property.
"Silicon Valley is still the hot spot for investments," said Chad Leiker, a first vice president with Kidder Mathews, a commercial realty brokerage. "Asian investors still view this area as ground zero for innovation and buying property."
Many of the industry's leading commercial real estate brokerages use CommLoan's platform, including Kidder Mathews, the largest independent commercial real estate firm on the West Coast with more than 700 professionals in 20 offices throughout Washington, Oregon, California, Nevada, and Arizona.
Veteran broker Peter Quinn has joined Kidder Mathews' San Diego office. In his new role, he will be responsible for the company's investment properties.
The third quarter 2017 commercial real estate office market reports for Orange County reveal the market remains strong, as prices continued to increase, vacancy remained stable, and the amount of available space in the market increased.
The Phoenix office market slowed a bit last year, but this year has regained momentum. Marketwide vacancy in the third quarter was 15.9%, the lowest it has been since 2008, Kidder Mathews reports. Leasing activity was nearly 2.5M SF in Q3, pointing to high levels of demand for office space spurred by a strong local economy.
Kidder Mathews said vice president and partner Kraig M. Heeter has joined Society of Industrial and Office Realtors Foundation board of trustees for a three-year term. Heeter specializes in the industrial market, often in the Kent Valley. Past clients have included, Weyerhaeuser, PacTrust, RREEF and Walgreens.
The 18-unit complex is centrally located in the market and is close to shopping and restaurants, with easy access to Interstate 5.
The company is adding 13,200 square feet bringing the U.S. manufacturing and research and development facility to a total of 64,796 square feet. Elemental LED first announced its was relocating its operations and corporate headquarters to northern Nevada from the Bay Area last May.
Marlborough 4102 LLC purchased the 18-unit property in San Diego for $4,162,500. Managed by Brycorp Properties, the community was completely renovated in 2007.
The industrial market south of Tacoma has become important for regional distributors that don't need to be in the pricier, closer-to-Seattle South Seattle and Kent Valley markets.
Kraig M. Heeter, SIOR, senior vice president and partner at Kidder Mathews in Seattle, Washington, has joined The Society of Industrial and Office REALTORS® (SIOR) Foundation Board of Trustees along with four other SIORs from different firms and markets around the United States.
The 18-unit complex at 4102 Marlborough Ave. was bought by Marlborough 4102, LLC from AE Holdings, LLC, a real estate development and investment company.
Jeff Lyon, CEO and chairman of Kidder Mathews, said they're working to retain talent by remaining relevant and keeping up with technology.
"We are never satisfied where we are, and always striving to be and do better for our own success as well as the success of our clients," Lyon said.
Pierce leads the way in the amount of space both being developed and leased, according to commercial real estate company Kidder Mathews, which reports that 10 buildings totaling nearly 4.1 million square feet are being built.
Researchers at Kidder Mathews say 3Q 2017 countywide total vacancy decreased by 30 basis points from last quarter, to 5%, and below the 5.3% vacancy recorded at the same time last year. The vacancy rate for San Diego County's industrial market is one of the lowest posted in the past 15 years, and has remained at this record low level for two years.
Amazon has leased the renovated upper floors of the Macy's building, at 300 Pine St.
A new Starbucks store in Mesa at Gilbert and McKellips roads has sold for $2.2 million. That translates into $1,099 per foot at the 2,000-square-foot location.
With the lease, the shopping center is fully occupied, he said. Safeway and CVS are the other two anchors for the center, which also has a Dollar Tree, Big 5 Sporting Goods and Quick Quack Car Wash. Martinez said he represented landlord Calfox Inc. in the deal, while Bryan Wirt of Kidder Mathews represented California Family Fitness.
Nossa Familia Coffee, which launched in Portland in 2004, joined forces with Schlesinger Companies to acquire a 26,200-square-foot industrial and office building at 3530 N.W. St. Helens Rd. for $3.57 million. The structure, after a small buildout, will become home to Nossa Familia's operations in November.
The local industrial/logistics market is notoriously tight. Kidder Mathews' third quarter report says that the regional vacancy rate is 3.3 percent. KM estimates the Seattle close-in market - precisely where Prologis is building - is even tighter: 1.79 percent. Rents are rising, and KM writes, "Tenants are frustrated by a lack of product to choose
The company secured five different leases at the 542,197-square-foot Campus at San Diego Business Park and the 2.1 million-square-foot Siempre Viva Business Park, both in Otay Mesa.
Real estate firm has released its third quarter reviews of the Seattle metro area, with the Pierce County industrial picture looking rosy.
The Valley Distribution Center, at 300 S.W. 27th St., has sold for $67 million, according to King County records. The seller was TCPF 300 SW 27 LLC, an entity of TIAA, which acquired the property in 2010 for $30 million.
Kidder Mathews and Paladin Partners represented Genera Corp. in the deal. The company has leased Bolger Business Center for 10 years.
File hosting company Dropbox Inc. signed the largest office lease in San Francisco history, taking all 736,000 square feet of the Exchange in Mission Bay.
A former Cisco Systems building is becoming a hub for small businesses looking for about 10,000-square feet of Class-A office space - an elusive opportunity in Silicon Valley for many growing companies.
Murphy Development Company (MDC), the largest real estate developer in Otay Mesa, has signed five leases this year, totaling 386,401 square feet, including three new leases at The Campus at San Diego Business Park (SDBP). SDBP was originally built by Murphy Development in the mid '80s.
Oewell has hired the San Francisco branch of Kidder Mathews, a commercial real estate broker, to market Avenue Lofts and Kearney Street Lofts to companies interested in building them once plans have been approved or perhaps in purchasing and managing them once they are complete and have been leased.
A report from commercial real estate company Kidder Mathews notes that six major new buildings totaling 1.7 million opened in the Puget Sound region during the third quarter. About 96 percent of this space had been pre-leased to Amazon.com Inc., Tableau Software and other companies.
Starsong & Co. has purchased the 155,700-square-foot industrial building at 1431 E. Beamer St. in Woodland, CA for slightly more than $5.22 million, or about $34 per square foot. The buyer will occupy the property during the fourth quarter of 2017 doing business as an outdoor furniture manufacturer.
Philip Assouad and Giovanni Napoli of Kidder Mathews represented the seller. The transaction was worth about $224,516 per unit.
Kidder Mathews brokered the sale of a 93,725-square-foot industrial asset known as Pinnacle Peak Commerce Center. The company was retained to manage the property.
The facility is located at 23751 N. 23rd Ave., near Interstate 17. Darren Tappen, Peter Beauchamp, Mike Ciosek, Eric Bell of Kidder Mathews represented both the buyer and the seller, Orsett Properties, in the transaction.
"I think this signifies Amazon's long-term commitment to their hometown," said Jake Bos, a Kidder Mathews vice president. He thinks Rainier Square could be the second-biggest lease in the city's history, behind another Amazon lease.
"Cabot Business Center is an ideal asset for Nicola Crosby's first purchase in Phoenix," said Darren Tappen, Kidder Mathews broker. "The central location, freeway access, quality of the project, and occupancy level bodes well for the new ownership. They are looking for similar opportunities as they look to become a key player in the Phoenix market,
Pinnacle Peak Commerce Center is a 93,725 square foot, state-of-the-art flex/industrial property located at 23751 North 23rd Avenue in Phoenix, Arizona, near Interstate 17.
According Skip Whitney, executive vice president and partner at Kidder Mathews, the announced changes in investment regulations took people in the industry by surprise. However, the underlying trends motivating the changes have been in the works for the past year.
"You really don't see anybody else paying this much, except for Google," said Chad Leiker, a first vice president with Kidder Mathews, a commercial real estate brokerage.
Todd Battison and Ken Hirata from Kidder Mathews, represented the buyer in the transaction. JLL's Ann Chamberlain and Mark Flippo, together with the representatives from Kidder Mathews, worked on behalf of the seller.
Renovated Multi-Unit Apartment Sale within Lynnwood School Community
The Seattle Southside Chamber of Commerce announced the names of the candidates who have confirmed their attendance for their bi-annual Candidates Night on Wednesday, Sept. 27.
The company purchased the 171,828-square-foot Nimbus Oaks flex/business park, located in Beaverton, Ore., a growing submarket of Portland.
The 68,575-square-foot building was 89 percent occupied at the time of the sale.
SmartCap Group, a commercial real estate investment company, has purchased Quadrant I-5 Corporate Park, Building B, a 68,575 square foot office building, for $12,500,000. Kidder Mathews brokers, Todd Battison and Ken Hirata represented the buyer.
Vanoncini said Google has approached multiple Sunnyvale property owners with an interest in obtaining their properties. But all of this activity in Sunnyvale is just one facet of the company's areas sought for expansion.
Real estate, like relationships, is described by superlatives: The best. Most envied. One of a kind.
A private developer has snapped up two fully leased R&D buildings in a booming area of Santa Clara, where city officials hope to eventually see a spate of high-density residential units.
Kidder Mathews' Jenette Bennett and Patrick Luther of SRS in Newport Beach represented the buyer in the Laveen deal. Earlier this month, Kidder Mathews was retained as the new property manager for Cabot Business Center, a 110K SF industrial/flex property in Phoenix.
"It's the high-water mark of leasing demand - it's also the high-water mark for valuation," said Dave Vanoncini, senior vice president and managing partner for Kidder Mathews. "We're seeing the highest prices paid [in downtown San Jose] and the next deal might be the highest one."
Historic apartment fundamentals, consistent rent growth and value appreciation should continue throughout the year, but we are also beginning to see a tempering of this growth, Kidder Mathews executives SVP Steven Brombal and associate VP Joshua Rhee tell GlobeSt.com.
PASSCO Cos. sold the Laveen Village Marketplace to Litwin Management. The 56,747-square-foot asset sits within the Phoenix-Mesa-Scottsdale Metropolitan Statistical Area.
The property was sold by Tony Miltenberger, senior vice president and partner with Kidder Mathews. He works out of the company's Seattle office.
The City Council this week is being asked to sign a purchase-and-sale agreement that includes a 120-day due diligence timeline. The city's plan is to move part of its public works department from the department's Pacific Avenue service center into the health district building.
San Diego-headquartered Westcore Properties has acquired an industrial building in Moreno Valley for $30.71 million, with cosmetic improvements slated to start immediately, the company announced.
Joining the board are Amy Evans, an Olympia-based commercial real estate broker for Kidder Mathews; Craig N. Landes, a certified public accountant in Olympia; and Rob Rice, owner of general contracting and residential building firm Rob Rice Homes. Each new board member will serve a three-year term.
The Seattle Southside Chamber of Commerce announced on Monday (Aug. 28) the publication of their candidate questionnaires on their website, as well as the return of "Candidates Night" event on Wednesday, Sept. 27 from 5 - 8 p.m. at the Red Lion in SeaTac.
Darren Tappen, Peter Beauchamp, Aric Adams, Mike Kasulaitis, and Matthew Ault of Kidder Mathews represented the seller, Dunbar CBC, in this transaction. The firm will also manage the property.
Nicola buys and manages properties for Spire Real Estate Portfolios. It is Spire's first purchase in the Arizona commercial real estate market.
Darren Tappen, Peter Beauchamp, Aric Adams, and Mike Kasulaitiswith Kidder Mathews represented the seller Dunbar CBC LLC. That is an arm of Los Angeles-based Dunbar Real Estate Investment Management.
Darren Tappen, Peter Beauchamp, Aric Adams, Mike Kasulaitis, and Matthew Ault of Kidder Mathews represented the seller in the transaction. The buyer retained Kidder Mathews as the new property manager for Cabot Business Center.
Brombal and Rhee will continue their long-time partnership, specializing in multifamily investment properties across the Greater Orange County area. Prior to joining Kidder Mathews, the duo was at Berkadia Real Estate Advisors in Irvine.
With e-commerce creating greater infill demand for last-mile delivery, industrial lease rates are responding in kind, and Kidder Mathews' SVP and partner Bob Willingham, SIOR, doesn't see them dropping any time soon, he tells GlobeSt.com. We spoke with Willingham about his greatest concerns regarding San Diego's industrial lease rates and the types
Melanie Mesaros, marine and properties media relations manager for the Port of Portland, said the industrial park market is strong right now, and she referred to a real estate market review prepared by commercial real estate firm Kidder Mathews for the Port's second quarter of 2017.
Litwin Management, a full-service property management company, has purchased Laveen Village Marketplace for $14,200,000. Kidder Mathews commercial real estate broker, Jenette Bennett, represented Litwin Management in the transaction, along with Patrick Luther of SRS in Newport Beach, California.
Dunbar CBC, LLC, an affiliate of California-based Dunbar Real Estate Investment Management, has sold Cabot Business Center for $11,375,000. Kidder Mathews commercial real estate brokers, Darren Tappen, Peter Beauchamp, Aric Adams, Mike Kasulaitis, and Matthew Ault, represented Dunbar CBC, LLC in the transaction.
On a vacant industrial site at 2323 W. Elmore St., the veteran builder turned developer Frank Firmani is planning a new office/industrial building. Corey Sollom of Kidder Mathews will lease the space, though that effort hasn't yet begun.
Kidder Mathews expanded its multifamily brokerage team in Orange County with the addition of Steven Brombal and Joshua Rhee. The veteran investment brokers bring 36 years of combined CRE experience, and most recently were at Berkadia Real Estate Advisors.
Steven Brombal and Joshua Rhee have joined Kidder Mathews' Irvine office. They bring 36 years of combined multifamily brokerage and advisory experience.
Here's a recent analysis from commercial real estate services firm Kidder Mathews:
"Leasing activity in South King County continues to consist of mostly small tenants moving around without much expansion. Boeing continues to give back space and no major company has been found to replace their demand for office space in this submarket."
The technology titan wouldn't disclose the purpose of the work, but some industry watchers believe the company needs the space because it remains in hiring mode.
A few feet from each other, a pair of new Vancouver businesses are near opening. Storefront windows are papered or tinted with sawdust, while workers hammer away behind the scenes.
Seattle and the Eastside are among the hottest commercial real estate markets in the United States. Recently, two experienced commercial real estate brokers (Brian Hatcher, EVP, and Zach Zaborowski, SVP, The Broderick Group) held a robust discussion with PSBJ's Publisher, Emory Thomas, about how tenants can best negotiate leases and renewals in a c
A big San Jose office complex, leased by fast-expanding tech company Cavium, has been bought by a Chinese company just a few months after its previous sale, property records show.
For the past six years, Google has been expanding bit by bit beyond its Mountain View headquarters. But this year, the tech titan's plan for a massive new push into San Jose coupled with big land buys in Sunnyvale show just how big Google's footprint may get.
A panel of four Seattle-area CEOs led a casual discussion with more than 30 executives on what makes their employees happy. The panel was part of the Washington's best Workplaces event, where the Puget Sound Business Journal honors the best workplaces in the state nominated by their own employees.
Before Amazon, before voters rejected the Seattle Commons (twice), before Paul Allen began buying up land in South Lake Union, there was Wally Trace. He's the guy who, during the mid-1980s, developed Chandler's Cove and an adjoining strip to the north along Fairview.
Boyle Heights-based Towne Industry has purchased a 58,859-square-foot industrial property in downtown Los Angeles from the Liss Family Trust for $10.6 million, or $180 a square foot
Two Oceanside industrial properties recently changed hands, including a multi-tenant property housing several automotive-related businesses that sold for approximately $3.8 million. The buyer was represented by Jim Benson of Kidder Mathews, and the seller was represented by Lee & Associates' Rusty Williams, Chris Roth and Kyle Carruthers.
Dermody Properties is working on expanding its northern California portfolio, most recently picking up the longtime Pantronix headquarters in Fremont less than a month after it locked in a San Jose warehouse deal.
Acquired by Westcore Properties last year, the 75,048-square-foot warehouse is situated near the Port of Seattle. Kidder Mathews worked on behalf of the workplace solutions provider.
The Elan41 apartments at Jefferson Square in West Seattle have sold for $17.9 million, according to King County records.
According to the Silicon Valley Business magazine, Google bought 52 properties in Sunnyvale, a real estate development partner CBR, for $ 820 million, about 4 miles from Google Mountain View headquarters Miles away. "This is a huge land plunder and is an important reorientation of Sunnyvale," said Chad Leiker, former vice president of commercial re
Four firms released quarterly reports this month on the local office market. Let's dive into the cold, deep numbers first, then apply the warm terrycloth towel of context.
"This is a huge land grab," said Chad Leiker, a first vice president with Kidder Mathews, a commercial real estate brokerage. "It's a major repositioning of what's going on in Sunnyvale."
Long Beach had 574 apartment transactions last year, Kidder Mathews reported, up from 236 deals signed in 2010. Southern California saw apartment transactions jump to almost 4,200 last year, up from 1,264 in 2010.
Pacific Urban Residential divested Vue at Lake Murray, a 65-unit multifamily community in San Diego for $18 million to an undisclosed buyer. Kidder Mathews'Jim Neil, Eric Comer and Merrick Matricardi represented the seller.
Vista Investment Group has acquired Seattle Mart, an 82,218-square-foot creative office building in Seattle, for $14.6 million. The building is located at 200 S.W. Michigan St. in the Georgetown neighborhood south of Seattle's Central Business District.
Kidder Mathews commercial real estate brokers, Andy Miller and Evan Lugar represented the seller, Lift Real Estate Partners, a private commercial real estate company, in the transaction.
Phase four is being built across 24th, on the former Furney's Nursery site. It includes a 266,000-square-foot warehouse that is already leased to an unknown tenant and a second warehouse of 246,000 square feet. Peter Wooding and Chris Corr of Kidder Mathews are marketing those buildings.
In its first quarter industrial report, Colliers estimated the vacancy rate at 2.9 for the region and 1.9 percent for the Kent Valley. In its second quarter report, Kidder Mathews puts the South King County vacancy rate at 2.8 percent.
Today the building has open spaces with polished concrete floors, exposed brick and steel I-beams. The building is 90 percent occupied, according to Kidder Mathews brokers Andy Miller and Evan Lugar.
"It's wonderful to see multiple major tech companies that are bullish on downtown San Jose," said Chad Leiker, a first vice president with Kidder Mathews, a commercial realty brokerage.
The purchase of the 746,000-square-foot Jantzen Beach Center fits the REIT's strategy of upgrading its portfolio with key purchases.
"She was great to work with," said veteran broker Tim Foster, a senior vice president with Kidder Mathews.
According to a recent report from real estate firm Kidder Mathews, South King County trails only Pierce among markets in Puget Sound when it comes to industrial construction.
Kidder Mathews' Andy Miller and Evan Lugar represented the seller. KM says the seller completely renovated the building, which was originally Boeing's headquarters. It is on the west side of the Duwamish Waterway, and west of Highway 509.
Southern California asking rents climbed 29 percent in the past six years, averaging $1,607 a month this year, up from $1,246 at the start of 2011, show figures from commercial brokerage Kidder Mathews.
Dean Krieger has joined Kidder Mathews as a senior vice president in the firm's Irvine, CA office. He will focus on tenant representation for industrial users throughout the Inland Empire and Orange County markets.
Trion Properties, an LA-based private equity firm that specializes in West Coast value-add multifamily, recently added to its Portland-area portfolio with the acquisition of Bel Aire Court. Trion Properties paid $9.2M for the 67-unit community at 12020-12275 Why Worry Lane in Beaverton.
Southern California asking rents climbed 29 percent in the past six years, averaging $1,607 a month this year, up from $1,246 at the start of 2011, figures from commercial brokerage Kidder Mathews show.
An office building at 2100 112th Ave. N.E. has sold for $6.45 million, according to King County records.
Demand for San Francisco office space ballooned by 33 percent during the past year. Even as vacancy and asking rates remain virtually unchanged for almost two years, tenants are lining up to lease up large spaces.
When San Francisco's first affordable maker space opens next year, it will house screen printers, an apparel company and medical device makers.
The Seattle-based commercial real estate firm Kidder Mathews, which recently represented the seller of a $25 million lot on Boren Avenue, estimates that the Denny Triangle neighborhood at the northern edge of downtown alone has 33 commercial and residential projects in the pipeline worth an estimated $7 billion.
An Ocean Beach apartment building, located at 4968 Long Branch Ave., has sold for $1.62 million. The five-unit complex is a few blocks from the beach and is within walking distance of restaurants, coffee shops, and shopping.
Timber giant has sold more than 26,000 acres in Montana in the last six months, renews commitment to free public land access
Newcastle Partners and NY-based Drake Real Estate Partners have acquired 900 Kearny Street, a 30k sf, six-story office building in San Francisco. Newcastle acquired the property via an off-market transaction from a local family that has owned the building since 1991.
Kidder Mathews said it represented both the buyer and seller on a big sale of industrial land in Pierce County.
It was a head scratcher for some people when Amazon announced its $13.7 billion purchase of troubled Whole Foods.
Newcastle Partners, a West Coast- based full-service commercial real estate investment and development company, in connection with Drake Real Estate Partners, a NY-based real estate and investment management firm, has announced the acquisition of 900 Kearny Street, a 30,000-square-foot, six-story office building in San Francisco.
Dean Krieger brings more than 30 years of industry experience. In his new role, he will specialize in tenant representation throughout the Inland Empire and Orange County.
An office building at 1980 112th Ave. N.E. has sold for $5.7 million, according to King County records.
Landon Family Trust purchased the five-unit property in Ocean Beach for $1.6 million from The Frederick W. and Leone P. Jackson Trust.
A Ribbon Cutting & Grand Opening was held on Friday (June 23), welcoming Western Distribution Services, LLC to their new 241,140 square foot cold storage facility located in the Northeast Redevelopment Area (NERA) in Burien.
Three buildings at the Central Commerce Center, at 1012 Central Ave. S., have sold for $8.1 million, according to King County records.
Columbia Bank and Kidder Mathews are the only two companies to land on the list every year since we started publishing it. To see the other 78 companies that made the cut this year.
In an exciting and emotional ribbon cutting ceremony for Chicago-based Bridge Development Partners on its brand new 241,000 square foot cold storage warehouse facility in Burien, Western Distribution Services President John Naylor spoke to a crowd of city officials from the Port of Seattle, City of Burien, Burien city council members, vendors...
Western Distribution Services (WDS) of Burien, WA, along with Kidder Mathews (KM) of Seattle, WA, Bridge Development Partners (BDP) of Chicago, IL, and Tippmann Innovation (TI) of Fort Wayne, IN, are proud to announce the ribbon cutting of an advanced, convertible refrigerated/freezer warehouse near Seattle's Sea-Tac Airport.
King County records show the sale of Phase III of the Des Moines Creek Business Park, at 2231 and 2341 S. 208th St., for $43.6 million.
The Lake City Center building at 12360 Lake City Way N.E. has sold for $7.9 million, according to King County records.
There are myriad deals that show how super-charged the Puget Sound region's industrial real estate market is, and a deal this week in Des Moines is a prime example.
Kilroy Realty CEO John Kilroy and other company executives were on hand Tuesday for a formal groundbreaking ceremony for 333 Dexter, which will have two 12-story office buildings.
Lakewood Tacoma Gateway, 21.83-acre industrial development site in Lakewood, WA, has been purchased by Panattoni Development Company. It was sold by YKC LLC, a private investor.
Towering terminus humanizes neighborhood skyline by giving San Franciscans a rooftop park and event space
Los Angeles-based Kilroy Realty Corp. on Tuesday formally broke ground on 333 Dexter, a two-building project in Seattle's South Lake Union area.
Google's plan to build a massive transit-centered village in downtown San Jose could provide a new model for the design of sprawling tech campuses by addressing one of the Bay Area's biggest headaches: commuters sitting in seemingly endless traffic jams.
California-based Panattoni Development Company has purchased Lakewood Tacoma Gateway, a 21.83-acre industrial development site in Lakewood.
Based in the firm's Orange County office, Johnny Chang will specialize in multifamily investments. He joins from CBRE and has transactions totaling more than $250 million under his belt.
Mike Churchfield has joined the Reno office of Kidder Mathews where he will specialize in multifamily investments and land sales.
The Shuttle Express business office building at 800 S.W. 16th St. has sold for $7.1 million, according to King County records. The seller was Peer Frank LLC, which acquired the property in 2000 for $2.4 million.
Google is excited about receiving city support for its interest in downtown San Jose, the search giant said Thursday, amid its evaluation of opportunities in the suddenly red-hot Diridon Station district.
California-based developer Panattoni recently paid $15 million for 22.4 acres at 21215 Pacific Highway S. that will become phase four of its Des Moines Creek Business Park.
Echo Lake Apartments at 19270 Aurora Ave. N. in Shoreline have sold for $85 million, according to King County records.
Seattle-based Security Properties continued its buying spree by spending $85.5 million to acquire the 289-unit Echo Lake Apartment Homes community also known as The Blakely in Shoreline, according to public records.
He will specialize in retail leasing and investment sales with a focus on supermarket anchored sites and large-format retail opportunities. Prior to joining Kidder Mathews, Booth was with Wallace Properties.
Kidder Mathews hired John Booth on the retail leasing and investment sales team. His expertise is supermarkets and large-format retail. He was with Wallace Properties, where his past clients included Tractor Supply, Cash & Carry and Big Lots.
Sorrento West Properties has purchased a 117,354-square-foot industrial building in the San Diego submarket of Poway for $20 million.
Pier 54 LLC, an affiliate of Los Angeles-based A.F. Gilmore Co., completed a sale-leaseback of Ivar's on Pier 54 in Seattle for $39.5 million. The transaction includes a 29-year lease for Ivar's Acres of Clams, as well as 20-year leases for the Fish Bar and a new Kidd Valley slated to open in June.
Kratos Defense & Security Solutions Inc. will be moving its corporate headquarters from University Towne Center to Scripps Ranch, after recently signing a lease for more than 26,000 square feet at the Scripps Plaza office property.
Brian Cooper has joined the Reno office of Kidder Mathews where he will specialize in retail and capital equity investments.
Kidder Mathews closed the $23.3 million sale of MidTown Center, a property that occupies a full city block in Seattle. Jason Rosauer, senior vice president & partner and Rob Anderson, vice president & partner, represented the seller, MidTown LP.
The buyer was Pier 54 LLC, which is associated with A.F. Gilmore Co. of Los Angeles. The privately held family firm grew from dairy farming in the 1880s into oil and real estate. It has diverse real estate holdings on the West Coast, including the famous Farmers Market in Los Angeles.
Ivar's on Wednesday executed on a key component of its real estate strategy by selling its flagship property at Pier 54 on Seattle's waterfront.
Despite concern about the retail sector of commercial real estate right now, those looking for positive news need look no further than the Pacific Northwest. The region's two biggest cities, Seattle and Portland, Ore., are both U.S. retail-fundamental strongholds.
The seller of Hampton Court Apartments, at 4526 Illinois St., was an affiliate of Carolyn A. Kutzke Trust of San Diego. The buyer was represented by Merrick Matricardi, Jim Neil and Eric Comer of brokerage firm Kidder Mathews.
Lake Union Partners bought Midtown Center from the longtime owners, the Bangasser family. Brokers Rob Anderson and Jason Rosauer of Kidder Mathews marketed the property for sale for the family.
After 25 years in South San Francisco, biopharmaceutical company and cancer drug developer Exelixis (NYSE: EXEL) has signed a 10-year lease with Ascentris to relocate its corporate headquarters to three buildings within The Waterfront in Alameda, CA.
Kidder Mathews' Ross Klinger, Jim Klinger and Tim Foster repped the unnamed seller. The trio was also involved in the recent sale of 1200 Howell St. in Seattle, the only residential condo tower currently under construction in the neighborhood.
"We are hovering around the top of the market when you see quick transactions like this, properties selling six months later," said Chad Leiker, a first vice president with Kidder Mathews, a commercial realty brokerage. "Some of the local players may be getting out of the market."
Last year there were 20 deals done over 100,000 square feet, which is double an average year, said Dave Simonsen, senior vice president of the industrial group at Kidder Mathews.
The property at 1916 Boren Ave. has sold for $25 million, according to King County records.
Fans of Sonic Drive-In coming to Kent will have to hold their orders a bit longer.
One of the nation's largest apartment landlords is the new owner of a recently completed complex in West Seattle.
Over the past five years there's been a sizable shift in the hierarchy among Portland commercial property management firms as it relates to the amount of square footage under management.
Cini Apostol, Kidder Mathews' (No. 1) senior vice president for property management, identifies three daunting issues: clients seeking "instant gratification" without time to do the job; "increased demands... without increased fees;" and greater "reporting responsibilities that tie you to a desk so you can't be out on the properties."
A new apartment complex called Springline at 3220 California Ave. S.W. just sold for $57.1 million, according to King County records.
The general contractor on the project was Sunnyvale-based Applied Construction Technology. Redwood City-based DES Architects + Engineers designed the building. Randy Scott, Kristoph Lodge and Mary Hines of Newmark Cornish & Carey and Gregg Domanico of Kidder Mathews were the brokers behind the deal.
Kidder Mathews expanded its team in San Diego with the addition of Vince Reynolds, who joins as senior vice president from CBRE. The 27-year veteran broker specializes exclusively in manufactured housing and RV parks.
Driverless vehicles are coming, and coming fast. Many of the world's largest and most prestigious corporations are investing billions in the technology.
Washington State Employees Credit Union will hold a groundbreaking ceremony today at 11 a.m. for its seven-story, 66,750-square-foot building at 1121 N.E. 45th St. in the University District.
They're as much of a symbol of the changing face of Seattle as the hoard of six-story apartment buildings going up and the thousands of blue Amazon badges attached to people milling about in South Lake Union every day. I'm talking about those big white "proposed land use action" signs posted at development sites - that people have a propensity to t
Kidder Mathews has announced the addition of Bob Dietrich and Derrick Sinclair to their team of senior valuation professionals.
Capstone Advisors has signed six leases for tenants at The Presidio, a recently renovated and repositioned retail center located in San Diego's Linda Vista community.
J&R Realty Co. Signs Online Corporate and Business Travel Management Company at 409 Sherman Ave.
Seattle-based Kidder Mathews continued its expansion in California with the addition of nine senior valuation professionals. The new team members will be spread across the firm's existing offices in San Francisco, Los Angeles, Orange County, San Diego and Sacramento, as well as in Phoenix.
Los Angeles, Calif. (May 2, 2017) - Kidder Mathews, the largest independently owned commercial real estate firm on the West Coast, continues to expand its operations by adding a team of 9 senior valuation professionals who provide services both regionally and nationally. The team members are located in the firm's established offices in...
The downtown Seattle hotel development boom continues with the upcoming 1,260-key Hyatt Regency Seattle, which is targeted for LEED Gold certification.
A half-million square feet of new biotech lab and space will hit the market next year with BioMed Realty's decision to move forward with a potentially iconic South San Francisco project pondered for the past decade.
Kilroy Realty Corp. is delaying the opening of its Exchange project by about nine months and spending an additional $75 million to make it more attractive to life sciences tenants.
Building A at the 520 Corporate Center at 2375 130th Ave N.E. has sold for $11.1 million, according to King County records.
A South Lake Tahoe property on the Nevada state line and entitled for more than 300 residential units has sold to a Bay Area buyer for $42.5 million.
A warehouse property at 25 S. Hanford St. has sold for $5.94 million, according to King County records. The seller was Park East Building Inc., which acquired the property in 2008 for $4.1 million.
A company that started in a Seattle basement 34 years ago will move into a big distribution center planned for Kent.
A site at 215 Ninth Ave. N. in South Lake Union has sold for $5.1 million, according to King County records.
Seattle-based Kidder Mathews' added a veteran team of multifamily investment brokers in San Diego. Jim Neil, Eric Comer, and Merrick Matricardi joined from CBRE, bringing more than 65 years of collective industry experience.
Commercial real estate services firm Kidder Mathews has announced the San Diego hiring of three multifamily investment brokers and two support personnel, who have switched over from rival CBRE Group Inc.
The stats gauging San Diego County's commercial real estate performance in 2017's first quarter are now arriving from local brokerage firms.
The Sweeney Conrad Building at 2606 116th Ave. N.E. has sold for $13.5 million, according to King County records.
Chicago real estate mogul Sam Zell's company has updated its plans to build two high-rises in downtown Bellevue.
Investment in infrastructure is running high on priority lists in both the U.S. and Canada. U.S. voters have recently approved $200 billion for transit projects nationwide.
Bellevue Park Investment, LLC purchased the two-building Belle-View Office Park complex at 275 and 118th Ave SE in Bellevue, WA, for $19 million, or $330 per square foot.
The Belle-View Office Park at 275-325 118th Ave. S.E. has sold for $19 million, according to King County records. The sellers were two LLCs associated with Kirkland investor Michael J. Raskin. In two separate transactions, the two portions of the Bellevue office park were previously acquired for $9.9 million in 2013.
The buyer was Element Investments LLC, which is associated with Rally Capital of Kirkland. Rally Capital's managing director is Dennis Weibling, a former telecom executive associated with the McCaw family and Nextel Communications.
The Phoenix retail market started 2017 with strong leasing activity, rising net absorption and steady rental rates, according to Kidder Mathews' Phoenix retail Q1 2017 report.
Between Seattle's bustling downtown high-rise core and picturesque Lake Union a short skip to the north, several conditions have converged to establish what has quickly become one of the world's most dynamic urban technology hubs.
Building Under Construction Reaches 65 Percent Leased Before Completion
The Phoenix office real estate market experienced over a million square feet of positive net absorption, strong leasing activity and steady rental rates during the first quarter of 2017, according to Kidder Mathews' Phoenix office Q1 2017 report.
A global logistics company is starting construction of an unusual multi-story warehouse project at a busy intersection in South Seattle.
An LLC associated with White/Peterman Properties paid $9 million for the Seattle Healing Arts building at 6300 Ninth Ave. N.E. in the Roosevelt area, and plans to build apartments there.
A Sacramento midtown business is set to close because of higher rent and new beginnings.
Kidder Mathews, the largest independent commercial real estate firm on the West Coast, announced its expansion into Los Angeles. The new office brings KM's office count to over 20 in Washington, Oregon, California, Nevada and Arizona. The firm's headcount is now over 650.
'The Oyster Point area is one of the best kept secrets of the region. It's so beautiful and has so much potential.'
There can be a flipside to biotech industry success: When a company wins regulatory approval for a potentially top-selling drug, it becomes a buyout target - and the consequences for the local real estate market can be unexpected.
As the Puget Sound region continues to grow and evolve, more health care facilities will be necessary to meet growing demand. The Puget Sound Business Journal recently held a Thought Leader Forum with industry leaders about important issues to consider when making decisions regarding health care facility design and construction.
It was reported a year ago that Amazon.com Inc. would have 12 million square feet of office space in the Puget Sound region by 2022.
Industrial Property Trust, Inc. and Dividend Capital purchased the industrial building at 700 SW 34th St. in Renton, WA for approximately $6.49 million, or $157 per square foot, from Springbrook Creek Real Estate Holdings LLC.
Michael Nevis, CCIM, Dave Simonsen, CCIM, Steve Kucera, CCIM, and a partner of Kidder Mathews in Reno, Nev., represented Global Logistics Partners in the $55.3 million sale of the 1,250,084-sf Lillard Business Center and Vista Industrial Park in Sparks, Nev.
How are regulators approaching contamination issues in Los Angeles and California in general?
More talent is seeking to be part of a privately held entrepreneurial company like Kidder Mathews, which has recently acquired two Southern California-based firms, Jeff Lyon tells GlobeSt.com
The 24-story residential tower proposed for 820 John St. will have its first early design guidance meeting next month.
Patrick Gemma of DCT said he considers this an extension of the Fife market, 'which is pretty much out of land.'
Kidder Mathews in February announced it made two big West Coast mergers and company leaders say the privately owned real estate firm will look to grow its Bay Area operations in the future.
Zazzle currently operates three facilities in California. The ecommerce company began searching for a new manufacturing facility about a year ago.
RENO, NEV. - Zazzle has leased a 180,792-square-foot industrial facility at the South Valley Commerce Center in Reno. The space is located at 811 Sandhill Road.
Kidder Mathews, a commercial real estate firm with an office in Irvine, has acquired Costa Mesa-based Alden Management Group.
The Port of Olympia is set to close on its $6.5 million purchase of three buildings in Lacey's Meridian Campus.
Kidder Mathews has acquired Costa Mesa-based Alden Management Group. Terms of the deal were not disclosed. Alden is a commercial property management firm with a portfolio of office, industrial, and retail properties throughout the Southern California market.
Amazon CEO Jeff Bezos recently announced the e-commerce giant plans to add another 100,000 jobs by mid-2018.
The company has acquired Alden Management Group and is preparing to merge with Heger Industrial.
Kidder Mathews has acquired Alden Management Group of Costa Mesa, California, in its second major deal this month.
Kidder Mathews has hired Tim Gunsten as an associate in its Reno, NV office.
The firm worked on behalf of the same sponsor to provide loans totaling $12.2 million for the portfolio.
Kidder Mathews acquired Costa Mesa, CA-based Alden Management Group. The move expands its CRE property management footprint of office, industrial, and retail properties across SoCal by more than 45 million square feet.
The Inland area ranks No. 2 in the nation for million-square-foot-plus "megawarehouses," according to commercial real estate company CBRE Group.
Portfolio Grows to 45 million square feet
Kidder Mathews, a commercial real estate firm headquartered in Seattle with Tacoma native Jeff Lyon at the helm, announced today that it has acquired Costa Mesa, Calif.-based Alden Management Group.
West Coast commercial real estate firm Kidder Mathews announced it has completed discussions to merge with Heger Industrial, one of the most dominant industrial real estate firms in Los Angeles.
Los Angeles-based industrial powerhouse Heger Industrial has merged with Kidder Mathews. Industry leader and Heger CEO and President Robert Thornburgh will join the Kidder Mathews'; executive leadership team.
Kidder Mathews has merged with Los Angeles-based industrial firm Heger Industrial. The new company will retain the Kidder Mathews name and operating structure.
Developer Kilroy Realty Corp. said it's in talks with a single tenant to lease its entire 740,000-square-foot Exchange project in Mission Bay in potentially San Francisco's biggest office lease ever.
Combined Portfolio Exceeds 45M SF Across the West Coast
In its efforts to position itself as the pre-eminent West Coast commercial brokerage firm, Kidder Mathews will be announcing today its merger with Los Angeles-based Heger Industrial, creating the largest independently owned commercial real estate firm on the West Coast.
Kidder Mathews and Heger Industrial have agreed to a merger in a deal announced today that supports Kidder Mathews' West Coast expansion.
Seattle-based commercial real estate company Kidder Mathews'
growth continued Tuesday, when the company announced it has
merged with Los Angeles-based Heger Industrial.
Kidder Mathews and Heger Industrial have merged to form the largest privately owned
brokerage firm on the West Coast. The strategic growth move gives Kidder Mathews a strong foothold in the
Southern California market and Herger a more robust platform with offices throughout the West Coast and more
than 600 brokers.
The e-commerce company Zazzle is relocating to the Biggest Little City.
Zazzle will occupy a 209-000-square-foot building that is being constructed by Panattoni Development Co.
A Santa Clara, Calif.-based private investment group has purchased the 58-unit Muse apartment complex in Portland for $20.1 million. The community is located at 1313 N.W. 19th Ave. The Muse was built in late 2016. Jordan Carter, Clay Newton, Tyler Linn and Joe DeJager of Kidder Mathews executed the sale. The seller was Gerding Edlen.
There are 21 office projects now underway, and 17 of them are in Seattle. The Seattle market now has about 4.2 million square feet under construction.
A recent recap of Thurston County's industrial market from area real estate firm Kidder Mathews shows an active 2016 in terms of development, which should segue into a positive 2017.
According to real estate firm Kidder Mathews, the Pierce County office market closed out 2016 with the strongest quarter in five years, with 160,672 square feet of market absorption during the three-month period.
Legacy Partners Commercial of Foster City, California became SteelWave in a reorganization two years ago, and now SteelWave has sold two more properties from the old Legacy portfolio, according to King County records.
The e-commerce company Zazzle is moving to the Biggest Little City, Mayor Hillary Schieve announced at the State of the City address on Jan. 26.
Michael Dupuy (pictured, left), Fletcher Perry and Rachael Thompson have joined Kidder Mathews' Phoenix, AZ office.
San Francisco will see more new office space in 2017 than at any time in the past three decades. More than 3 million square feet, including the city's tallest new building, Salesforce Tower, will provide a big dose of new supply, twice the amount delivered in 2016.
Irgens completed the $17 million acquisition of four acres of land for an upcoming Gilbert medical campus that is already 65 percent pre-leased.
The Chan Zuckerberg Initiative has leased 102,079 square feet in a new project in Redwood City, in one of the largest office deals signed last year in the Peninsula.
The customer relationship management company is the largest tenant at the Nine Two Nine tower, one of three new office buildings in downtown Bellevue.
Wellco Industries leased the 89,819-square-foot industrial building at 2095 California Ave. in Corona, CA for 88 months.
Kidder Mathews released their 2016 fourth quarter hotel performance report indicating the Seattle area is about to crest, with new supply on the verge of outpacing demand. With nearly 5,000 rooms under construction and even more planned, Kidder Mathews expects reduced occupancy rates and intensifying price competition.
As the largest tenant in Federal Way's Evergreen Corporate Center, HomeStreet Bank went all in and expanded their office space with the recent purchase of the 112,000 square foot Evergreen Corporate Center for $15.65 million, or approximately $139 a square foot, from California-based LBA Realty on Jan. 18th.
Real estate and technology are arguably the two hottest industries in the Puget Sound region, and this year's Family Business of the Year has found a clever way to harness both.
King County records show the Evergreen Corporate Center has sold for $15.65 million.
King County records show the Union Bay Apartments sold for $23.95 million.
The Inland-area commercial building vacancy rate fell 21.6 percent in the fourth quarter of 2016 compared to the same time in 2015 and the monthly average lease rate jumped 15.2 percent over the year - but remains below those of surrounding areas.
A company that creates and promotes technology products for construction, electricity and landscape design has leased space in Corona.
In the wake of store closings by Kmart, Sears and Macy's, because news continues to come in from that sector, much of it with local implications, little of it good
Three former Colliers International Healthcare Services Group experts are now with Kidder Mathews' Phoenix office. Michael Dupuy (senior vice president), Fletcher Perry (senior vice president) and Rachael Thompson (vice president) work with tenants, landlords, investors and developers to lease, acquire and dispose of commercial real estate assets..
Amazon and some other tech companies have become so dominant in commercial real estate that there's now an acronym to describe the phenomenon.
About 800 laborers swarm over a 17-acre property on the waterfront in Renton, hammering away on one of the biggest real estate bets ever made on South King County.
The new purchase has allowed BECU to increase its holdings in the office park to 589,000 square feet.
The 400 Concar building in San Mateo is the first of a 305,000-square-foot speculative project developed by Hines and Pearlmark Real Estate Partners.
The city is seeking a real estate consultant to help prepare a request for proposals for developing the properties.
San Diego County's industrial property market ended 2016 with a historically low 5.1 percent vacancy rate, according to the latest quarterly data from CoStar Group.
Dave Simonsen, Michael Hoeck, and Michael Nevis, commercial real estate brokers in Kidder Mathews' Reno office, have been recognized at the 2016 Northern California SIOR Premier Broker Awards for two transactions.
Washington state's largest credit union has made a commitment in Tukwila worth $78 million.
Last year around this time, the Business Journal tapped into some local players in the real estate market to see how they thought the year ahead would unfold.
As 2016 moves into the record books, industrial real estate brokers are as optimistic as they've been in a long time. Here are five highlights from fourth-quarter leasing, according to Sean Gallinger, an associate vice president specializing in industrial and land properties with Kidder Mathews.
David Chudzik, vice president for Kidder Mathews' Valuation Advisory Services, has been awarded the CRE designation by The Counselors of Real Estate.
The DJC recently reported that Acacia Capital Corp. of Phoenix sold the 87-unit Q Apartments on Upper Queen Anne for $26.5 million.
Ascentris, a Denver-based real estate private equity company, on behalf of one of its public retirement system clients, has sold the Cameron Distribution Center, a 321,000 square foot light industrial building located in the Airport Way submarket of Portland, Oregon.
BECU purchased eight additional buildings at the Gateway Corporate Center in Tukwila for $78 million on Dec. 27.
Vacancies in industrial property remain at historical lows in Orange County, according to a report by Kidder Mathews.
The Boeing Employees Credit Union has bought most of the Tukwila office and industrial park where its headquarters building is located. BECU confirmed the sale, recorded this week by King County, of the Gateway Corporate Center for $78 million.
The six-story complex was completed a year ago, with 99 housing units and 7,200 square feet of retail - all fully leased.
Ballard Public Lofts & Market at 6450 24th Ave. N.W. has sold for $47.4 million, according to King County records.
The first three buildings of the Des Moines Creek Business Park, being developed on Port of Seattle-owned land south of Sea-Tac Airport, have sold for $68 million. King County records show the sale, confirmed by developer Panattoni, which includes about 35 acres and half million square feet of industrial space.
The buyer was Fana Northlake LLC, which is associated with Bellevue's Fana Group.
An Australian company won't proceed with a project for a 1,100-room hotel-casino on the Las Vegas Strip, company officials announced Thursday.
Sierra Construction Co. has tilted the concrete walls for Building No. 108 at Redmond Ridge Corporate Center in Redmond.
Tarlton Properties Announces 27,260 SF Lease Deals to Biomedical Companies
Strong performance of the Puget Sound real estate market continues late into the year, this time with another industrial site in Tacoma selling and readying for a massive redevelopment, which when completed will deliver 1.2 million square feet of office/warehouse and industrial space along with 720 parking spots on a 52.9-acre property zoned for...
Good industrial sites are hard to find in South Seattle, so Prologis' $136 million acquisition of 62 acres near Boeing Field has people talking.
The buyer was DCT Blair Logistics Center LLC, associated with DCT Industrial of Denver, which has filed plans with the city of Tacoma to develop the former container-storage yard, which now has five older buildings on it that will be removed.
Admiral Capital Group and Security Properties on Thursday announced the sale of Waters Edge Apartments, a 304-unit multifamily property in Kent.
Security Properties of Seattle and former NBA star David Robinson's company sold a Kent apartment complex for $56.6 million last week, according to public records, $16.4 million more than they paid for it less than two years ago.
Urban Villages Inc. plans to transform three buildings in the city's re-emerging Pioneer Square neighborhood.
The Denver office of NorthMarq said David Link and Brian Fisher arranged $93 million in acquisition financing for the 524-unit Bridges at Northcreek in Bothell, which sold in October for $145 million.
Admiral Capital Group and Security Properties today announced the successful sale of Waters Edge Apartments, a 304-unit multifamily property located in Kent, Washington, in the Seattle MSA on November 30, 2016.
King County records show the sale of the Altitude Apartments for $30.185 million. The seller was Eagle Ridge Villa LLC, associated with developer Chris Koruga.
Pokemon is moving to the new 400 Lincoln Square office high-rise in downtown Bellevue, where the children's entertainment company will occupy three of the upper floors, according to commercial real estate brokers.
Pokémon is closing in on a big new office lease that would up its U.S. presence in Bellevue, Wash., already home to its North America office.
The Port of Seattle could lose as much as $93 million if developer Chris Hansen builds a sports arena in Sodo - and the port put itself on the line for that loss.
A fully leased Class A office building in Roseville has sold to a Modesto land investment company for $16.05 million.
The new headquarters of Weyerhaeuser seem an exception to other office buildings in this waterfront city. Instead of a tower on a busy street, this new corporate base is a horizontal structure with a front door that opens onto a public park.
SAN DIEGO - The larger the user, the more important it is to get out to the marketplace early, Kidder Mathews' David Crabb tells GlobeSt.com in this EXCLUSIVE look at the tenant-rep side of the office sector.
About five months after crews officially broke ground on the Broadway Tower project, the giant pit at the corner of Southwest Broadway and Southwest Columbia has bottomed out and a 375-foot crane now towers above it.
Some investors from China are backing away from investing in real estate in the U.S, according to a new Wall Street Journal report.
Lennar Multifamily Communities is now considering an even larger development scheme for the full block at 23rd and Union known as MidTown Center, although it doesn't yet own the site.
Cohen Equities acquired Corporate Center in January of 2016 with 50-percent vacancy and has brought the property to full occupancy in under a year. Now it plans to resell the asset.
The new Destiny Community Center facility offers resources for single moms and their children
The Washington State Employees Credit Union will have a design review meeting tonight for a new building it is planning in the University District, catty corner from where it currently leases space.
From a big new hotel development to a proposed expansion to the Washington State Convention Center (WSCC), Seattle's meetings and events sector is poised to expand.
The Seattle office rental market's high pricing and low vacancy rates continued in Quarter 3, according to a market study just released by JLL. The brokerage's analytics unit named the combined Seattle-Eastside market the 3rd most competitive office rental market in the United States.
San Rafael-based Wareham Development has started construction on a new 260,000 square feet spec development project in Emeryville called EmeryStation West.
Amazon has leased all of the new 21-story Midtown21 office high-rise in Seattle.
Mass-customization printing company Cimpress, best know in the United States for its brand Vistaprints, is making Reno its Western manufacturing and distribution hub. The Economic Development Authority of Western Nevada (EDAWN) made the announcement at a press conference Nov. 7.
Capital efficiency reigns supreme for early-stage and mid-market life-science and tech companies, Kidder Mathews' John Hundley tells GlobeSt.com. Hundley recently joined the firm's San Diego office as a first VP, specializing in tenant representation, strategic advisory, and portfolio planning for life-science, healthcare and technology clients.
The pace of foreign purchases of major King County buildings has tripled, with Chinese companies heavily represented - and now some are even building projects here themselves.
The Economic Development Authority of Western Nevada (EDAWN) and Cimpress, a world leader in mass customization, have announced the opening of the company's first U.S. manufacturing operation in Reno, Nev.
The Economic Development Authority of Western Nevada (EDAWN) and Cimpress, the world leader in mass customization, today announced that the company will open its first U.S. manufacturing operation in Reno, NV.
Amazon today opened the second of three 36-story towers at the heart of the e-commerce giant's Denny Triangle headquarters.
A development team led by entrepreneur Collin Madden is interested in putting a 43-room hotel and restaurant in the building at 1001 Westlake Ave. N. long occupied by American Meter & Appliance.
Westcore Properties, an active investor in industrial and office properties throughout the Western United States, acquired a 1,170,000-square-foot industrial property portfolio in Reno, Nevada from an institutional owner for approximately $54.5 million.
A small two-story office building sold for $6.3 million, according to King County records. The seller was Matty Legacy Ventures LLC.
The majority of the Puget Sound region's 25 largest commercial property managers said they don't offer dog-friendly leases. They include CBRE and Kidder Mathews, which manage a combined 66.2 million square feet of commercial space.
Hanjin Shipping's bankruptcy filing caused waves near the Port of Seattle and new emails reveal, perhaps, the port has been planning for a post-Hanjin future for more than a year.
Calgary-based Grosvenor Americas, which purchased the apartments in 2013 for $88 million, was the seller. Grosvenor was represented by KM's Giovanni Napoli and Philip Assouad.
A real estate company recorded a hefty profit this month with the recent disposition of two suburban apartment complexes north of Seattle for a total of $243 million.
Wareham Development is building a commercial highrise in Emeryville that will be one of the largest additions to the East Bay's skyline in a decade.
PBS Engineering and Environmental has a new office in the Maple Street Building at 1180 N.W. Maple St. in Issaquah, offering civil, geotechnical and environmental engineering services for public and private infrastructure projects.
Real estate broker Kidder Mathews announced that Bill Frame will become the firm's president, in charge of 17 offices in five West Coast states.
Insider Bill Frame Tapped to Become President, Responsible for All Operations in 17 offices Across 5 West Coast States
Seattle-based Kidder Mathews appointed Bill Frame as the firm's President, who will head up 17 offices across five states on the West Coast.
The fourth installment in our series on Seattle Power Women, recognizing six more influential players in the industry.
Campbell Run is the second largest garden-style apartment community to sell this year on the Eastside in terms of both sales price and number of units.
Seattle-based commercial real estate company Kidder Mathews has named veteran broker Bill Frame to the new position of president as part of a succession plan that includes bucking expectations by remaining a privately held, independent brokerage.
Bill Frame has been named president of the regional commercial real estate firm, Kidder Mathews, according to an announcement from the company's chairman and CEO Jeff Lyon.
Kidder Mathews announced the $98 million sale of the Campbell Run apartments, with its sales team led by Philip Assouad and Giovanni Napoli.
Kidder Mathews' third quarter report on the local industrial market calls absorption rates "robust."
Seattle, Wash. (October 17, 2016) - Acacia Capital Corporation, a property investment firm based out of San Mateo, California, has purchased Campbell Run, a 360-home multifamily community located in Woodinville, Washington, for $98 million.
Companies continued to suck up available space during the third quarter of 2016 in the Sacramento regional market.
A week after commercial real estate firms confirmed Amazon was expanding to downtown Bellevue, another tech company also signed a big Eastside commercial lease.
At 1701 N.W. 56th St., one block north of Northwest Market Street, a mixed-use complex called Valdok is under construction. It is named for one of the past property owners to whom Lennar paid a total of $9.1 million in January.
A pair of virtual reality/gaming companies are biting off huge chunks of industrial real estate east of Seattle, in an area that is rapidly becoming a hotbed of VR activity.
Two years after buying most of a block on Seattle's First Hill, Miami-based Lennar Multifamily Communities is showing its plans for the big project, which include two residential high-rises.
Virtual reality headset maker Oculus Rift is expanding in a big way on the Eastside.
A $135-million financing for a 45-story apartment tower Downtown shows that lenders are seeing renters as more-stable and permanent residents than condo owners who often use their assets as second homes, Mathews' SVP, debt and equity finance, Jamie Dick tells GlobeSt.com.
A 5.7-acre industrial property on Washington Street near Phoenix Sky Harbor International Airport has sold for $6.8 million.
R.C. Hedreen Co. is planning a 450-room hotel adjacent to the 45-story Hyatt Regency Seattle complex it is constructing two blocks from the Washington State Convention Center.
King County Metro Transit is working on a pilot program that would let apartment building owners rent out empty parking spaces.
Seattle, a popular destination for wealthy Chinese real estate investors, is heating up even more as a new tax across the border in Vancouver is sending more buyers to the Puget Sound.
Reversing a recent trend, Domus Development will be moving out of downtown Sacramento for an office location a bit more removed from the action.
The Dallas office of Clarion Partners has paid $26.55 million, or nearly $85 per square foot, to acquire the 312,866 square foot industrial asset located at 1936-1980 West Avenue 140th Street in San Leandro, according to information provided by Kidder Mathews.
Vancouver-based Western Wealth Capital continues to increase its real estate buys in the Phoenix market.
Tahoe Stateline Venture, LLC, has entered into a purchase agreement with Jianping Pan, Kawana Holdings LLC to sell part of The Chateau at the Village for $42.5 million, according to Owens Realty Mortgage.
Apartments keep getting built, complexes keeping being sold and traded and rents keep on rising (mostly) in Phoenix and other U.S. markets.
Millions of square feet are newly available or under construction as rents rise
Connect Inland Empire is coming up on October 6. Explore the lineup and register here.
HFF arranged a $41.3 million Freddie Mac loan for the purchase, which marks the firm's 10th acquisition this year.
The developer of the 484-unit Pinnacle on the Park, Phase 1, has obtained $135 million in refinancing for the apartment property in downtown San Diego, according to brokerage firm Kidder Mathews, which arranged the financing.
An LLC associated with Chris Hansen, the San Francisco financier hoping to bring pro basketball back to Seattle, bought two contiguous SoDo properties on Tuesday that total about 4.88 acres.
SAN DIEGO, Sept. 22, 2016 /PRNewswire/ -- MG Properties Group, a private San Diego-based real estate investor and operator, has announced the acquisition of the Mosaic Hills Apartments in Kent, Washington.
BPM Real Estate Group has selected Howard S. Wright, a Balfour Beatty company, to build its Broadway Tower project in downtown Portland.
Kidder Mathews expanded its San Diego office with the addition of John Hoffman as senior vice president. The more than 25-year CRE veteran specializes in office, medical and R&D sales and leasing transactions.
A $17 million, five-story hotel project and Sonic Drive-In - the first in Snohomish County - are part of two new developments sprouting up just east of I-5 in Marysville.
Wareham Development has started construction on a commercial highrise in Emeryville, one of the largest additions to the East Bay's skyline in a decade.
A venture led by Greenland USA has paid $171 million for the Landing at Oyster Point, a South San Francisco development site that is slated to be redeveloped into office and life-science space.
They are CityMD Urgent Care, MOD Pizza, BECU and T-Mobile. Weingarten's Louis Wenger closed the deal, with JSH, First Western and Kidder Mathews representing the tenants.
Chinese investment in commercial real estate in the Bay Area remains robust despite an economic slowdown at home. Industry leaders, excited about two big-ticket acquisitions by Chinese investors, are optimistic that they're a sign of more to come.
Real estate broker Dan Mathews, with the firm Kidder Mathews, represented both seller and buyer in a recent transaction - selling 14 acres located at 1010 South 146th St. to Bridge Development Partners, LLC, a Chicago-based industrial and office developer.
The Peninsula's hospitality boom hasn't showed signs of slowing down yet. With hotel occupancy rates at 81 percent and average daily room rates up 5.6 percent over last year, developers have flocked to the area to get a piece of the action...
The controversy over the City Council's decision to open a temporary - and perhaps permanent - homeless facility at Terminal 1 has only increased in recent days.
The Chinese joint venture acquired their foothold on the California coast from local developers Shorenstein Properties and SKS Partners for a reported $171 million.
A huge new cold storage facility will be completed in Burien in a few months, following the earlier $4.5 million sale of 14 acres of city-owned land in the Northeast Redevelopment Area.
As a heat wave bears down on Seattle, the region is getting another cold-storage warehouse.
Negotiations are continuing for the sale of a former hotel in Clinton, IA.
The San Francisco-based hotel developer, Stanford Hotels, received an approval from the city's design review board on Tuesday for its newest Seattle project, the 49-story Altitude Hotel & Residences.
It's a commonly held opinion that the only attractive aspect of industrial real estate is cash flow. And while it makes for a nice rule-of-thumb at cocktail parties, the current market is proving it false.
Seven bid have been submitted to the city to purchase Terminal 1, the surplus industrial site where the City Council has voted to open a temporary homeless shelter and perhaps permanent homeless multi-service center.
A Bellevue company, Wallace Properties, already is invested as an apartment developer in Seattle's Northgate neighborhood. And now it has paid $33 million for an older multifamily property, the 146-unit Park at Northgate at 10713 Roosevelt Way N.E.
Kidder Mathews arranged the $51.57 million sale of the Mosaic Hills Apartments in Kent.
What's attracting office buyers to downtown Sacramento these days isn't necessarily proximity to Golden 1 Center or cutting-edge design, according to one broker. It's an old but still popular feature: on-site parking.
Hanley Investment Group Real Estate Advisors has arranged the $2.3 million sale of 51st & Southern, a 15,498-square-foot retail property located eight miles southwest of downtown Phoenix in Laveen.
Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that Executive Vice President Eric Wohl negotiated the sale of 51st & Southern, a 15,498-square-foot multi-tenant retail property in the Phoenix metro area. The purchase price was $2,32
25-Year CRE Veteran Recruited from CFI
King County records show that the Park at Northgate Apartments sold Friday for $33 million. Located at 10735 Roosevelt Way N.E., the 1967 complex includes six three-story buildings with 146 units and surface parking.
King County records show that the 73-unit Capri apartments in downtown Kirkland sold for just under $40.13 million.
Two years ago, Amazon's real estate director said the company would have 10 million square feet of office space in Seattle by 2019.
With recent office lease-rate increases in that submarket, tenants are migrating out and flocking to more-affordable markets or even moving down a class to save money, Kidder Mathews' Jerry Holdner tells GlobeSt.com EXCLUSIVELY.
Redmond Woods office park sold for $36.9 million, according to King County records.
Outside of Seattle's central business district, brokers with Kidder Mathews commercial real estate find mostly small tenants taking new leases for office space in South King County.
The region's industrial sector is most vacant in the southeast Valley and least empty in the areas south of the Salt River and Phoenix Sky Harbor International Airport.
Washington Capital Management, Inc. sold the office building at 728 134th St. SW in Everett, WA to Shelby Company for $14.2 million, or about $253 per square foot.
Lee & Associates has completed a lease for 12,945 square feet of retail space at 2550 Jason Court within the Jason Court Business Park in Oceanside.
idder Mathews' Q2 2016 Orange County office report reveals that the market continued to improve, posting just more than 131,000 square feet of positive net absorption for the quarter.
In the transaction, Scottsdale based investor Urman Investments, the buyer, was represented by Darren Tappen of Kidder Mathews.
Plans for a Burger King restaurant were submitted to the city's building department on Thursday, June 23. The 80-seat, 3,000 square-foot facility will be located on the Eagle's Landing development site at the northeast corner of Highway 8 and Highway 12.
Amazon.com Inc. has signed another East Bay industrial lease as it grows its warehouse space to accommodate demand from customers.
Black Plague Brewing has leased space at 2550 Jason Court in Oceanside, planning to join the eight other breweries currently operating in the city in another six months.
Synapse Development Group and partner Aqarat has purchased an office building in San Francisco's Mid-Market neighborhood for $33 million, nearly double what the property sold for less than three years ago.
THREE DAYS A WEEK, Peter Cho is in his small, airy kitchen at Han Oak, plating haute Korean barbecue with just one or two other cooks. One server ferries shio-koji pork belly bo ssam and smoked hangar steak to expectant diners, all of whom paid in advance to eat.
A brief shower delayed the golden shovel photo op, but once the skies dried up, investors, executives and other stakeholders gathered around BPM Real Estate Group's CEO, Walter Bowen, for the official groundbreaking of Broadway Tower on Friday morning.
In May the Asia Society and Rosen Consulting Group published Breaking Ground: Chinese Investment In U.S. Real Estate, to analyze the increasing trend of Chinese foreign direct investment in real estate in several major cities and regions in the U.S.
Yakima offers a number of amenities for those attending regional conventions: sunshine; a central location; a growing number of diversions in the form of wineries, restaurants and concerts; and a convention center that was last expanded in 2010.
A stellar international brand has made Silicon Valley commercial real estate attractive to Chinese investors seeking condo projects, office buildings and corporate campus sites. 'It's everything,' says one industry expert.
Uber Technologies will open a big engineering office that could potentially employ 700 people, the ride hailing company said Tuesday.
In a bid to tap into the South Bay's deep talent pool, Uber Technologies will open a big engineering office here that could potentially employ 700 people, the ride-booking company said.
Create World America has acquired an 8,748-square-foot residential development site near Pike Place Market in Seattle for $17.1 million. The space is located at 1613 2nd Ave.
Office specialist, Grant Keeney, has joined Kidder Mathews' Sacramento brokerage division as a senior vice president.
A 12-story apartment building may be pushing longtime jazz club Jimmy Mak's out of its home on Northwest 10th Avenue, but the tunes won't go silent for long.
Yakima Convention Center officials are exploring the idea of a fourth expansion since its opening four decades ago.
It was about four years ago that Asian investors, mostly from China, began buying large commercial development sites in the Puget Sound region.
Create World America, a Hong Kong-based developer and construction management firm, acquired a high-rise development site in South Lake Union for $16.25 million.
San Francisco-based industrial developer Prologis has filed plans with the city to build a four-story warehouse, manufacturing and research building at 646 S. Holgate St. in Sodo.
This time, Create World bought a vacant 8,748-square-foot site one block from Seattle's famed Pike Place Market. The site, which was purchased from Iowas-based real estate private equity firm Principal Real Estate Investors, will be home to a high-rise residential building featuring condominiums.
New Urban Properties, a commercial real estate investment company, has sold a 1.93 acre development site to ROEM Development Corporation for $11.5 million.
A Taiwan-based company called Chainqui Development plans to soon start building a Seattle apartment building called Urban Green Villa, and it will not be green in name only.
Create World America, an international construction management firm based in Hong Kong, paid $17.1 million for a site near Pike Place Market where it wants to build a luxury residential tower.
A Chinese real estate developer, active in downtown Bellevue and Seattle, has staked a claim in South Lake Union, where it's proceeding with plans to build an apartment tower.
Create World Group has bought the site for $17.1 million.
Jameson will mange 1.2 million square feet of industrial and office space.
The once-struggling Redmond Technology Center office building is worth 90 percent more than it was only two years ago.
Office construction in the county is on the rise again, hitting a high not seen for nearly a decade.
On Tuesday there will be a groundbreaking ceremony for the Federal Aviation Administration's five-story, 300,000-square-foot regional office at the Des Moines Creek Business Park.
Burrard Group of Vancouver, B.C., paid $14.95 million for land at 1200 Howell St. where it plans to build a 40-story condo tower called Nexus.
Earlier this month, Seattle Mayor Ed Murray announced that China's largest homebuilder, the Vanke Co., is working on a deal to finance a 43-story apartment tower near the Space Needle.<
Washington's life science industry is noted as one of the leading economic drivers in the state, and in honor of this Governor Jay Inslee signed a proclamation on Tuesday designating June 1st as Life Science Day, in preparation for the annual Life Science Innovation Northwest Conference.
The medical startup is responsible for a device that helps treat peripheral arterial disease.
Shuttleworth, which specializes in the design and manufacturing of exhaust systems, has leased a 24,900-square-foot industrial building located at 4945 Aircenter Circle in Reno from Global Logistic Properties, a provider of modern logistics facilities.
An entity related to Irvine-based real estate investment company, Passco Companies, sold a Pierce County shopping plaza late last month to a local investor.
Innotrac Corporation, an omnichannel commerce technologies and operations company, has renewed their existing 224,778 square foot lease at 4910 Longley Lane in Reno, Nevada, along with an additional 52,500 square foot expansion at the same location.
The Economic Development Authority of Western Nevada (EDAWN) announced today that Mary's Gone Crackers, a manufacturer of organic and gluten-free healthy snacks will be opening a 420,000-square-foot manufacturing and research and development facility in Reno.
As TMG continues work at its Champion Station project in North San Jose, the developer managed to sell one of the buildings in the complex to a private investor.
The Martin Group has proposed a 416-unit residential project in downtown Oakland, another example of a new developer entering the East Bay city.
China Vanke, the mainland's largest residential developer, has agreed to invest in a project to develop a near Seattle, Washington's famed Space Needle.
California Lt Governor Gavin Newsom emphasized the important role sub-national regions and private enterprise can play in facilitating dialogue and strengthening wide-ranging cooperation between the US and China.
Bay area mixed-use property developer TMG Partners has announced the sale of 250 West Tasman Drive, a 99,550-square-foot building at Champion Station.
Dermody Properties has broken ground on LogistiCenter at 167, a 225,972-square-foot industrial facility in Fife. The facility will be located at 7450 26th St. E., just east of Tacoma.
Dermody Properties, a national industrial acquisition, development and operating firm headquartered in Reno, Nev., recently broke ground on a 225,972-square-foot industrial facility, known as LogistiCenter(SM) at 167, at 7450 26th St. E. Fife, Wash.
Video game developer Valve Corp. has leased a large industrial space in Kirkland, and now real estate brokers are buzzing about it leasing a significant amount of office space in Lincoln Square tower, which is under construction in Bellevue.
The redevelopment of Yesler is predicated on creating a mixed-income community.
A Minnesota company has paid $21.1 million for an Issaquah property that sold for $50.5 million a dozen years ago.
Kemper Development Co. appears to be close to landing two more tenants for its Lincoln Square expansion and that would mean about half of the 710,000 square feet of office space is taken.
REI's Spring District headquarters in Bellevue could start at 200,000 square feet, with the possibility of expansion, according to a quarterly report from real estate firm Kidder Mathews.
Speaking on Jiang's behalf, Mark Piscitelli of the commercial real estate firm Kidder Mathews tells Eater Jiang opened his first Sushi Mioga in the area, a conveyor-belt-sushi spot in Beaverton's Timberland Town Center, earlier this year, and he says Jiang intends to open a third Sushi Mioga at Johnson Creek and 82nd Avenue sometime this summer.
New details have emerged about the commercial portion of the Cannery mixed-use redevelopment in Davis.
Lee & Associates, the fourth largest full-service commercial real estate organization in the country, has negotiated a lease for 5,525 square feet of office space on behalf of the American Red Cross of Northern Nevada Headquarters.
Lee & Associates, the fourth largest full-service commercial real estate organization in the country, has negotiated a lease for 5,525 square feet of office space on behalf of the American Red Cross of Northern Nevada Headquarters.
A thriving tourism industry helped make the Seattle region's hotel market one of the strongest in the country.
Dave Pinnegar and Russ Jabara have joined Kidder Mathews in San Diego, CA as senior vice presidents. The duo will specialize in leasing and sales of industrial properties.
The rows of low-income housing across the street from Harborview Medical Center in Seattle is where few people would expect high-rise office buildings to be built.
Central District is one of Seattle's oldest and largest neighborhoods. Located east of downtown, the Central District is a primarily residential area of about 3.5 square miles that is home to over 40,000 people.
Luxury apartment builder AvalonBay Communities is planning a 330-unit, 25-story apartment tower on a vacant lot at the corner of Second Avenue and Wall Street in the trendy Belltown neighborhood of Seattle.
Dermody Properties has announced plans to develop a 225,972-square-foot industrial facility in the Tacoma submarket of Fife. The property will be known as LogistiCenter at 167. It will be located at 7402 26th St. E.
Vancouver's food scene is on fire, with new restaurants and food carts stoking new energy downtown.
Dermody Properties says it will start construction soon on a 225,972-square-foot industrial building at 7402 26th St. E. in Fife.
Dermody Properties, a national industrial real estate owner-operator headquartered in Reno, Nev., recently announced plans to develop a 225,972-square-foot industrial facility in Fife, Washington. The property, known as LogistiCenter at 167, is located at 7402 26th Street East.
Firm forecasts continued, but slower industrial absorption and growth in 2016.
The Seattle development group that brought Whole Foods to University Place is moving forward with plans to build more retail on the city's commercial center off Bridgeport Way.
RAF Pacifica Group acquired a 277,040 square-foot portfolio of 16 buildings in San Diego County.
Vulcan Real Estate rocked the region last week when it announced it will develop four big office buildings in the Lakefront Blocks project in South Lake Union for Google.
RAF Pacifica Group has purchased a 16-building industrial portfolio in San Diego. The price was not disclosed, though the firm secured a $19.6 million loan at 50 percent leverage for the acquisition.
radley C. Shepard, Stanley V. Shepard and Growing Investments LLC has purchased a 52,524-square-foot industrial property in Woodburn for $3.2 million.
The San Diego-based MG Properties bought the 283-unit property from the Reliant Group, a San Francisco-based holding company.
Anchorage offices remains in limbo this week, with lawmakers set to meet Thursday to decide whether to move out of their building on Fourth Avenue, buy it or pursue some other option.
Apple's plans for a new "spaceship" campus in Cupertino are certain to create an attention-getting headquarters icon and another Silicon Valley landmark
Kidder Mathews, a commercial real estate firm, has opened a new office in Irvine and recruited several local brokers, according to a news release.
Not to jinx it, but shop owners in Fremont probably need not fret about Google leaving the Seattle neighborhood. Not with another growing tech company, Tableau Software, headquartered there.
The Seattle-based firm recruited several local brokers and plans to have up to 30 employees there by the end of 2017.
One of the largest privately held retail real estate companies in the western U.S., Vestar, announced last Wednesday that it has acquired its first property in the state of Washington.
Kidder Mathews' robust West Coast expansion continued Monday when the Seattle-headquartered real estate services company announced it has opened an Orange County, California, office.
Greystar Investment Group walked away with more than $45 million in profit after selling The Mill at Mill Creek, an apartment complex it owned in Snohomish County for three years, to The Blackstone Group.
Retail space topped real estate investors list of the most sought-after properties in Pierce County last year and with a Chinese developer's $135 million proposition for a U-Village type space in Tacoma, that trend could continue into 2016.
Commercial real estate firm Kidder Mathews is adding a new office to its constellation anchored in Tacoma with headquarters in Seattle, and led by Pierce County native Jeff Lyon as chairman and CEO.
ZoomCare, an urgent care provider, signed a lease for 30,193 square feet in the under-construction office building known as Pearl West in Portland, OR.
The head of international investment management for Germany's Union Investment Real Estate was a driving force behind the company's $299 million purchase of two Amazon-occupied buildings in Seattle's South Lake Union neighborhood last December.
The biggest real estate deal in King County during 2015 involved the tallest building in Washington and a buyer in Hong Kong
By the end of 2015, the greater Seattle area office market's vacancy rate dropped to 8.1 percent with tenants leasing more than 4.4 million square feet of office space - nearly double what had been leased in 2014, according to Seattle real estate brokerage Kidder Mathews.
Phenix Salon Suites will continue its expansion in the Sacramento region with a new store in Roseville.
The Bellevue Sheraton now has a new owner since Tuesday, March 15, 2016
The acquisition includes Buildings C and E for a total of 129,972 square feet.
Google has agreed to pay $250 million to buy several Sunnyvale buildings where it could employ thousands of workers, which experts said Wednesday represents a fresh addition to the search giant's remarkable expansion in Silicon Valley.
Commercial Brokers Association has elected new officers and directors for 2016.
Gary Guenther of Kidder Mathews will discuss the biggest deals in the local office market at Bellevue Chamber of Commerce's next business lunch at noon March 24 at Hyatt Regency Bellevue.
Kidder Mathews added multifamily investment broker Brian Richardson to the Bellevue team as a vice president.
A Philadelphia-area company is betting big that the technology and gaming industries will keep the Eastside office market strong.
Google has submitted new renderings for what would be a landmark office complex in Silicon Valley, potentially a striking addition to the tech titan's facilities in north Mountain View.
Record Low Drug Store Cap Rate Nationwide at 4.22%
Cohen Equities, a New York City-based real estate investment and management firm, purchased the Corporate Center located at 10400 N. 25th Ave. in Phoenix.
Goldman Sachs Retains West Coast Firm to Fill Portland Tower
Construction workers are in the early stages of turning Seattle's first public housing project, the 561-unit Yesler Terrace, into a mixed-income neighborhood with 5,000 residences, nearly 1 million square feet of commercial space and a central park.
The economic outlook as a whole is uncertain with both tech companies and the stock market taking big hits in recent months.
CenterPoint Properties has acquired a 152,155-square-foot distribution facility in Auburn for an undisclosed sum.
If you're going to rent an apartment on Seattle's Capitol Hill, chances are increasing that Equity Residential will be your landlord.
During its current growth binge, Apple Inc. has snapped up a former FedEx warehouse, an old chip fab and innumerable nondescript office and R&D buildings.
Kidder Mathews has brought in Jay Richter, CCIM as a vice president in the firm's Sacramento office. Richter will handle Sacramento Valley industrial and land sales.
With the vacancy rates going down, apartment rents going up and the projected growth of the community over the next five years there will be a need for more housing developments.
Kidder Mathews ranks No. 1 in this week's Puget Sound Business Journal list, which ranks commercial real estate firms by the number of licensed, full-time, local brokers.
A full 90 percent of Rod Keefe's commercial real estate business lies between CenturyLink stadium and South Lake Union.
A real estate investment company called CenterPoint Properties has made a big bet in Auburn that Amazon.com won't damage FedEx and other traditional shippers too much if the e-commerce behemoth starts delivering packages on its own.
South Lake Union checks all the boxes for spinning out life science companies except perhaps one - spaces to house their growth.
Kidder Mathews has hired the retail sales and leasing team of Damian Sevilla and Jason Miller from Colliers International.
CenterPoint Properties is proud to announce the acquisition of a 152,155 square foot facility on 15 acres at 3702 C Street NE in Auburn, Washington.
SKS Partners LLC and ProspectHill Group picked up a 140,000-square-foot warehouse in the South of Market neighborhood for $47 million.
Owens Financial, the owner of the mixed-use development project known as Chateau at the Village, is looking for a buyer, or buyers, for the 11.5 acre area in South Lake Tahoe once known as "The Hole."
A prominent mixed-use development project in South Lake Tahoe is for sale - just as another phase of expansion begins.
Perched at the edge of the Bay behind the much more famous Ferry Building, the Ferry Plaza East Building has now been vacant for more than two years.
Proposed Regional Distribution Center Coming to Woodburn
Kidder Mathews, agent, is selling The Chateau at the Village, an 11.5-acre retail and large-scale fully entitled residential development site in the heart of South Lake Tahoe.
In another sign of economic revival in Sacramento's Tower District, a local investment group has acquired a half city block at 19th Street and Broadway with plans that could include luring retailers and possibly a grocery store.
Kidder Mathews, as exclusive agent for the Seller, is selling The Chateau at the Village, an 11.5-acre retail and large-scale fully entitled residential development site in the heart of South Lake Tahoe, California.
Two hotel sales this year in Seattle and Bellevue have set records for the Puget Sound region.
Walton Street Capital Divests 64,000-SF Bellevue Bldg
J. Michael Hoeck, Michael Nevis, Dave Simonsen and Steve Kucera have joined the industrial division for Kidder Mathews, a commercial real estate firm that just opened an office in Reno.
Commercial real estate brokerage firm Kidder Mathews has taken the first step in an effort to double its Sacramento-area presence over the coming year.
It has been seven months since the Midtown Center in the Central District was put on the market last summer, and, as of right now, the hot piece of real estate is still for sale - though a deal is looming.
Meet the young brokers who are doing significant deals in the Bay Area's hot real estate market. With office costs soaring, they use shrewd strategy to help clients make the best decisions possible
When the seller occupying a property is a credit tenant, that is a huge plus for the buyer, but the downside is they're used to doing whatever they want to the property, CT Realty's director of acquisitions Steve Provencio tells GlobeSt.com.
Like other segments of the Puget Sound region's commercial real estate industry, the industrial sector is having its best year since 2006.
AAA Washington has purchased One Newport Building, an 89,850-square-foot office building in Bellevue, for $29 million. The Class A building is located at 3605 132nd Ave. SE.
The local office of a new brokerage in the region, Kidder Mathews, has signed up three new brokers - and plans on bringing in more.
Experts say Arizona has said goodbye to the recession and the commercial real estate industry can expect slow, steady growth in 2016.
Kidder Mathews, a commercial real estate firm with 13 offices on the West Coast, has opened an office at 50 W. Liberty Street in Reno.
AAA Washington purchased the four-story One Newport Building at 3605 132nd Ave. S.E. in Bellevue for $29.08 million.
Kidder Mathews continues to grow its Sacramento commercial real estate group, and recently added three veteran brokers. Bruce Wirt, Dennis Shorrock, and Tom Bacon will be senior vice presidents in the firm, and will specialize in office properties.
Lake Union Partners' $30 million plan for the languishing Eitel Building is benefiting from broader efforts to clean up and redefine downtown Seattle's Pike-Pine corridor.
AAA Washington, an insurance company based in Bellevue, has purchased the One Newport Building in Factoria for $29,075,000.
A recent acquisition of 77,000 square feet of industrial/office space is slated for expansion of a life science cluster, enabling the commercialization of a vast amount of intellectual property coming from neighboring Stanford University.
Insurance and travel company AAA Washington on Thursday bought the One Newport Building along Interstate 90 in Bellevue for nearly $29.1 million, according to real estate group Kidder Mathews.
Kidder Mathews opened a new office in Reno and hired four of that region's top industrial brokers.
Commercial real estate firm, Kidder Mathews, has opened an office in Reno and has recruited four of the region's top industrial brokers.
BKM Capital partners purchased a Tempe multi-tenant industrial center, Desert Vista Commerce Center, for $8,914,000.
Commercial real estate firm, Kidder Mathews, announced it has opened an office in Reno and has recruited four of the region's top industrial brokers.
Seattle-based commercial real estate company Kidder Mathews' expansion continued Wednesday, when the company announced it has opened an office in the "biggest little city in the world," Reno, Nevada.
With volatility and devaluation at home, Chinese investors have become the No. 1 foreign purchasers of U.S. real estate, and interest in the Seattle area is said to be running high.
The Puget Sound region's office market hasn't been this hot since before the recession.
When they started working on an $8.5 million transaction, two Seattle real estate brokers didn't know that their work would benefit the Foundation Fighting Blindness in a big way.
A San Francisco company called Swift Real Estate Partners has acquired a nearly half-empty office building in suburban Bellevue.
After more than 80 years as a pulp and paper mill and three as a pile of unwanted, contaminated rubble, the former Kimberly-Clark site is poised to complete a clear makeover.
With rents for prime office space soaring 28 percent in one Puget Sound-area neighborhood last year, these are good times for office landlords.
Tarlton Properties, Inc. (TPI), a commercial property development and asset manager, announced the recent acquisition of 77,000 square feet of industrial/office space for their O'Brien Drive Portfolio (ODP) in Menlo Park, CA.
Plaza Verde, a 44-unit multifamily complex located at 550 Berry Avenue in Hayward, California has been purchased by 29th Street Capital
The huge campus that Apple is planning in north San Jose that could bring 16,000 or more jobs to that part of Silicon Valley has landed a key endorsement from city staffers.
he Snohomish County Council has elected Terry Ryan to serve as chair of the council for 2016.
A Roseville office property has traded hands for $9.6 million as part of a tax-exchange deal.
From local environmental laws in California to messy zoning regulations and what was perceived to be a lack of leadership in Washington, it seems the industry does not view the current governmental climate favorably.
General Atomics Aeronautical Systems has signed a four year lease for a 112,000-square-foot industrial property in the San Diego submarket of Poway.
A new building being constructed on Harrison Ave. in Centralia will house Strand Insurance, and one other occupant, although it is unknown who that will be.
Intersil Corp. amended its office lease with affiliates of CBRE Global Investors for the company's headquarters in Milpitas, California.
It's been more than four months since Redding landed its first tenant in Stillwater Business Park, the city-owned industrial complex that officially opened nearly six years ago in the midst of the Great Recession with high hopes, despite the hard times.
Tyler Linn has joined the Portland office of Kidder Mathews as a vice president.
A medical office condo on First Hill sold for $8.5 million, and Kidder Mathews said in a press release that the net proceeds will benefit the Foundation Fighting Blindness.
Medical office in Nordstrom Medical Tower sold for $8.5 million, net proceeds will benefit blindness foundation
he 32,000-square-foot property is 95% leased to a tenant mix that includes McDonald's, Fitness 19, Schools First Credit Union, KinderCare.
No surprise, it's cheaper to rent a house in most places in California than it is to buy, according to a study released by RealtyTrac.
The Puget Sound/Seattle region has risen to become one of the nation's top markets for technology jobs, resulting in plans for more than a dozen new office towers and rapidly increasing central business district (CBD) rents.
Locally based Coola Suncare, which makes sunscreens and related skin products, has leased 45,500 square feet at a Carlsbad industrial building, in a deal valued at approximately $2.28 million, according to brokerage firm Lee & Associates.
For more almost five decades, John Drebick and his family have embodied Edison's words while making Olympia a better place to live, work, and shop.
Moving Fred Hutchinson Cancer Research Center from First Hill to South Lake Union was the largest land assembly in Seattle since the 1962 World's Fair.
Bo Sederstrom has joined Kidder Mathews as a senior vice president. Based in the firm's Phoenix, AZ office, Sederstrom will specialize in office leasing.
The impact of Asian buyers on the Puget Sound region's real estate market has been increasing in recent years, but 2015 will be remembered as the year Asian companies had their biggest impact to date.
Honolulu-based Watumull Properties Corporation purchased the industrial facility at 3901 SE Naef Rd. in Milwakie, OR from Blount International, Inc. for $7.5 million, or about $37 per square foot.
The real estate listing for the 107-year-old apartment building calls it "one of the more historically significant apartments located in what is now considered the Burnside Bridgehead area of close-in east Portland."
The Washington chapter of NAIOP will look at Fred Hutchinson Cancer Research Center's move to South Lake Union and the catalyzing effect it had on the neighborhood.
The company behind one of the city's splashiest real estate deals is at it again.
Developers of the Cannery project in Davis this week will unveil plans for commercial development on 15 acres along Covell Boulevard.
Des Moines is on a roll as another employer, K2 Sports, is moving to a business park now under construction in the Seattle suburb.
Leasing three buildings in the first phase of Des Moines Creek Business Park has been a dream for Kidder Mathews, the broker.
Lezlie Plastino has joined Kidder Mathews' Bellevue office as a senior property manager.
Top Pot Doughnuts and Mediterranean Grill will open locations in the Village at Chambers Bay in University Place.
Trend Business Center owner McCormack Properties LP leased the business park's 17,960-square-foot building A to a Michigan-based distribution company, and plans to begin construction of a new 33,221-square-foot facility in June 2016.
The Village at Chambers Bay in University Place (formerly known as Town Center) will get two new commercial tenants next spring.
A 76-acre business park near Westfield Southcenter mall was sold Tuesday for $202.8 million, a huge sum for an industrial park in the Puget Sound region.
After announcing earlier this year it would open its first South Sound location in Tacoma, Top Pot Doughnuts is opening a second location in University Place.
In 2016, two new eateries will open up at The Village at Chambers Bay in University Village: the Mediterranean Grill and Top Pot Dougnuts.
General Atomics Aeronautical Systems has signed a four-year lease for a 112,000-square-foot industrial property in the San Diego submarket of Poway.
Lake Union Partners said it has purchased the 111-year-old Eitel Building at 1501 Second Ave. for $5.35 million and plans to turn it into a hotel.
A mostly vacant, old building at a key corner in downtown Seattle finally has some new owners, and they plan to turn it into a hotel with a street-level bar and restaurant
Property owners and brokers recently announced significant lease deals in Poway and Carlsbad, including General Atomics Aeronautical Systems Inc.'s move to take 112,000 square feet in a Poway transaction valued at $4.2 million.
D & C Investments sold the retail property at 11000 Tukwila International Blvd. in Tukwila, WA to SEBCO, Inc. for $6.2 million, or about $301 per square foot.
Fueled by record-setting employment, the San Francisco Bay Area multifamily market is performing at its highest level in recent years in terms of low vacancy rates, strong rental growth, and new apartment communities coming online, under construction and planned
More than 1,200 people came to cheer at Safeco Field one evening last summer, and the Mariners didn't have a game.
When first unveiled a few years ago, the Apple Campus II seemed like a gigantic wonderland for the company's ballooning Silicon Valley workforce'
Sierra Construction recently tilted concrete walls for the third building of Des Moines Creek Business Park's first phase.
Apple has an ambitious plan to expand in the Bay Area, working with the city of San Jose to develop up to 4.15 million square feet of space in the next 15 years.
Safeco's decision to consolidate its Seattle headquarters in Safeco Plaza at 1001 Fourth Ave. could be good or bad, depending on your perspective.
After looking for more than two years, Tacoma officials think they've found the man to develop a big downtown property by the University of Washington's branch campus.
The company has already outgrown its Pentagon-sized "spaceship."
Aerostar Aerospace Manufacturing, a manufacturer of high-complexity machine parts used in commercial aircraft, has completed a 7-year lease on an industrial/manufacturing building located at 2688 East Rose Garden Lane in Phoenix, Arizona.
Apple is known for inspiring "gee whiz" reactions to its cutting-edge gizmos such as smartphones, tablets and watches, but now the tech titan is drawing a new round of "wow" responses to its stunning shopping spree for office space, buildings and land in Silicon Valley.
The Seattle-Bellevue area led the nation during the third quarter in demand for office space, edging out much larger markets like New York City and Chicago, as local technology firms expanded and newcomers planted their flags, according to a brokerage report.
By the end of this year or early next, a developer said he will be under construction on a trio of large office buildings in an unexpected place: Renton.
This week's conversion of Sacramento's Voit Real Estate Services offices into a new outpost for Seattle-based Kidder Mathews is seen as a huge opportunity for the 10 commercial brokers making the move.
With good proximity to the booming Bay Area and its locations in San Francisco, Redwood City, CA, and San Jose, Kidder Mathews has chosen Roseville as the location for its newest office.
Kidder Mathews opened its 12th office on the West Coast in the Sacramento suburb of Roseville, California.
Privately Held Seattle Brokerage Scoops Up Brokers; Eyes Further Expansion In Bay Area, Sacramento
Commercial real estate firm Kidder Mathews says it's opening its 12th location on the West Coast, effective Friday. The Roseville office will serve the greater Sacramento area.
When he started out on his own a couple of years ago, sushi chef Randy Mustererwould invite a few dozen of his friends over to his house for what he only half-jokingly called "underground" sushi feasts. Price of admission: About $40.
Green Theory, Bellevue's first legal recreational cannabis store, has been open just over a year, and already it's going to have to move.
With three quarters down and less than one to go before the end of the year, Portland's office market shows no signs of easing up anytime soon.
Seattle-based commercial real estate firm Kidder Mathews will take over the local office of Voit Real Estate Services on Nov. 1.
A fast-growing, Seattle-based brokerage company is moving into the Sacramento market, taking over the local operations of Voit Real Estate Services.
Apple has grabbed a building in north San Jose that's part of a site where the fast-growing company could eventually assemble enough property for 3,000 workers.
When it comes to building office space, timing is almost as important as location. One Connecticut company entered the Seattle real estate race has both of those things going for it.
It's getting harder and harder to find a place to house a life science company in Seattle.
GS Venture Partners of Bellevue on Tuesday said it is starting development of a $100 million business park in Arlington that could have 1 million square feet of space for aerospace and other manufacturing companies.
Reinvestment, not cheaper rates, may be key to filling spaces
For the last couple of years in the Puget Sound region, it has been tough for life science companies to find offices that also include lab space.
A private investor purchased the 31-unit Lancaster Apartments at 704 E. Thomas St. in Seattle, WA from a group of local owners for almost $8.25 million, or about $266,000 per unit.
Plans are underway for a 210-unit apartment complex for low-income seniors in Tumwater, the first development of its kind in the city.
Commercial real estate brokerage firm, Kidder Mathews, has opened an office in Phoenix and hired 11 brokers plus marketing support staff, all with extensive careers and experience in the Phoenix marketplace.
There are more changes ahead for the building that houses Seattle biotech Juno Therapeutics (Nasdaq: JUNO) and the Center for Infectious Disease Research.
Three large leases at two warehouse developments in Sumner go a long way toward showing why the greater Seattle industrial market is now tops in the United States.
A privately held real estate adviser out of Boston has acquired the four-building Crown Pointe office campus in Kirkland for $37 million.
One of Oakland's most valuable residential development sites, wedged between downtown and Lake Merritt, was zoned last year for "one of the most generous density allotments in a Bay Area major city," according to the property's sales brochure.
With its "spaceship" Apple Campus 2 project still under construction in Cupertino, CA, Apple has agreed to lease 777,000 square feet in Sunnyvale, CA, where it can accommodate another 4,000 workers, according to the San Jose Mercury News.
pple is eyeing fresh expansions here and in north San Jose that would add about 1 million square feet to what has turned into a stunning growth spurt for the tech giant, sources and experts said Thursday.
Commercial real estate brokerage firm Kidder Mathews announced it has opened an office in Phoenix and hired 11 brokers and marketing support staff.
An affiliate of New York-based Clarion Partners has acquired the five-building Pacific Technology Park in Sorrento Mesa for $90 million, according to CoStar Group and public data.
Seattle-based commercial real estate brokerage firm Kidder Mathews has opened an office in Phoenix.
The four speakers cited a bevy of reasons to invest in Thurston County. Good work force development thanks to a solid K-12 system and a variety of quality higher education choices.
Ruby Receptionists, provider of virtual receptionist services, signed a lease for 19,290 square feet of office space in the Fox Tower at 805 SW Broadway in Portland, OR.
WCI Voice and Data sold the office buidlign at 1945 Yale Ave. E in Seattle, WA to W.G. Clark Construction Co. for $6 million, or about $429 per square foot.
Having recently completed its first project in downtown Bellevue, Alamo Manhattan of Dallas just bought more land nearby for a second phase.
Chinook Footwear has leased 46,028 square feet at 6077 Lakeview Blvd. in Lake Oswego, OR.
Developer Walker John, who made a splash turning a former office building into the mixed-use Thurston First Bank building at Franklin Avenue and Legion Way, is at it again, converting yet another office building into residences.
Fast-growing Aduro Biotech Inc. - one of the growing list of recent Bay Area life sciences IPOs - will take little more than half of a new Wareham Development building in Berkeley's Aquatic Park with an option for the remainder of the four-story structure.
A partnership of Kauri Investments and Ariel Development called Port 106 LLC started construction on a 25,000-square-foot store for Total Wine & More at 1600 Armory Way in Interbay.
Google is expanding in its home town of Mountain View -- and for the first time is strongly considering planting its flag in north San Jose in a big way, an indication that job growth in Santa Clara County remains robust.
Say "electric cars" in Silicon Valley, and you'll conjure visions of Tesla Motors Inc.'s factory in Fremont and a sleek Model S.
The Homeport Building and Marina in downtown Kirkland has been sold to Bellevue-based PMF Investments for $28 million.
We got some of the top minds in foreign investment to tell us what it takes to strike deals with China at Bisnow's S.F. Capital Markets Extravaganza event this morning at the historic Fairmont Hotel. Here's what they had to say.
The 165,600-square-foot flex industrial/R&D/office building in Rancho Bernardo at 1655 Via Esprillo, San Diego 92127, has been sold for $30 million, cash, as a sale/leaseback transaction.
PMF Investments bought the Homeport Building & Marina at 135 Lake St. in Kirkland for $28 million.
San Diego's industrial market is on pace to be a record-setting year, as of the end of the second quarter.
The Kirkland Homeport Marina has been sold along with the office building that houses an Anthony's Homeport restaurant.
A Clarion Partners entity has paid $90 million to buy the 550,000-square-foot Pacific Technology Park in Sorrento Mesa.
Rivulis Irrigation signed a 60,120-square-foot industrial lease at 1855 Dornoch Ct. in San Diego, CA.
Building a great culture at work, typically means that companies enable employees to have terrific social bonding experiences.
The Old Spaghetti Factory is finding a new home in Tacoma, and it has economic implications beyond just serving pasta to the masses.
What a difference a year makes. Last summer, only one office project was under construction on the Peninsula.
Northwest Regional Educational Services is relocating and expanding to 23,415 square feet at Building E of Nimbus Oaks in Portland, Oregon.
The world of commercial real estate is a complex and provocative field that demands expertise in areas from development and capitalization to legal and regulatory issues to long-term investment strategies and short-term speculation.
A new office campus of 1.1 million square feet is being planned for north San Jose on Zanker Road, and the site is big enough that it could land major tech tenants such as Apple and Broadcom.
Tarragon said its 134,600-square-foot Sumner industrial building called Salmon Creek Corporate Park Building A is 70 percent leased.
Seattle is home to lots of architecture firms, known nationally for sustainable design, and in the midst of a building boom that is changing the skyline almost every day.
Slated to open in late 2015, the doughnut shop will become part of the under-construction Proctor Station (2724 North Proctor Street).
Jeffrey Crocker has joined the San Diego office of Kidder Mathews, where he will specialize in industrial and office properties in North San Diego County.
The retail market is strong in the core markets of Seattle and the Eastside, where most of the employment growth is occurring.
If anything, the softening of the economy in China, which this week devalued the yuan, will accelerate interest in Seattle properties among wealthy Chinese investors seeking a safe haven, some experts say.
Tarlton Properties Inc. just landed a big one in San Francisco Bay's booming life sciences market.
"We operate at the bleeding edge of new technologies," shares Jeff Nickel proudly. "We have a lot of automation and measuring equipment in our shop. When other firms may see no need to change, we wrap ourselves around it. It's what we do."
28-Year Veteran Joins Silicon Valley Office
South King and Pierce Counties' commercial office real estate picture remains dark, despite the sunny skies over Metro-Seattle.
An entity related Blackstone Real Estate last week closed on numerous buildings in Redmond and Bothell it briefly owned eight years ago.
Tenant Remains at Tigard's Nelson Business Center
Apple, in another remarkable expansion of its Silicon Valley operations, has struck a deal to lease two big buildings in Santa Clara, according to sources familiar with the transactions.
Twenty suburban office buildings across the Eastside sold Thursday for a total of $208.4 million.
The Convention Place bus station in downtown Seattle could be transformed into a five-story exhibition center, as part of a $1.4 billion plan to double the capacity of the Washington State Convention Center.
The massive project will change the look of a booming neighborhood and eliminate a major transit gateway into downtown as hotel development booms to meet record demand for rooms in Seattle.
The MidTown Center property, a full city block located on a major intersection at 23rd Avenue and East Union Street in Capitol Hill is coming to market for the first time in 70 years.
Apple's decision to lease a big office building in San Jose gives a boost to North San Jose and could bring well over 1,000 jobs to that part of Silicon Valley.
Seattle has more than 7 million square feet of office space under construction, and investors have spent $2.2 billion on office properties so far this year - not including Columbia Center.
The MidTown Center property is a full city block located on a major intersection at 23rd Avenue and East Union Street in the Capitol Hill neighborhood of Seattle that's for sale for the first time in 70 years.
A full block in the heart of the Central District is up for sale for the first time in 70 years.
Located at The Carlsbad Raceway Business Center, an 80,000-square-foot manufacturing and distribution center at 3200 Lionshead Ave. is being developed by Burke Real Estate Group, a local firm.
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