BELLEVUE, WASH. — Carey Watermark Investors 2 has acquired the 384-room Seattle Marriott Bellevue for an undisclosed sum. The 17-story hotel is located at 200 110th Ave. NE. The property opened in July 2015. It includes 21,000 square feet of meeting and event space, a food and beverage outlet, lounge, fitness center and business center. "The opportunity to acquire a recently developed, high-quality urban asset in the Pacific Northwest is a unique opportunity to expand our portfolio into..
The Puget Sound region is one of the fastest growing areas in the U.S. We are seeing that reflected in the retail landscape, with innovation and expansion throughout the area. We are at the forefront of retail evolution, thanks to having some of the best-known retail innovators in our back yard who have turned the world of retail upside down by giving every consumer access to virtually every product available via home delivery. And yet, they are also innovating into brick and mortar..
[caption id="attachment_144577" align="alignright" width="150"] Kip Spencer, SECO Development[/caption] Developers are doing everything they can to make their projects attractive to corporations and their brokers as competition in Seattle continues to increase for high-growth tech tenants. And they’re doing it with good reason: Seattle was recently ranked the No. 1 city in the country for technology jobs. Seattle’s tech industry has grown by 12 percent over the past two years, according..
[caption id="attachment_143872" align="alignright" width="150"] Raymond Allen, Marcus & Millichap[/caption] The underlying forces bolstering the strength of the Seattle metro multifamily marketplace are robust job growth, new development projects and the short supply of single-family houses. While these factors also slightly impact vacancy levels, property prices and sales activity are expected to continue to rise. New and expanding companies, particularly in the tech sector, have..
[caption id="attachment_134559" align="alignright" width="150"] Allen N. Safer, Integra Realty Resources[/caption] With all the recent froth in the multifamily markets, knowledgeable observers are expressing concern regarding all of the cranes that are sprouting around Seattle. To assess the apartment market, we have compiled data recently published in the “March 2015 Apartment Development Report” by Dupre + Scott Apartment Advisors. The Seattle Metro area is in the midst of an..
[caption id="attachment_133722" align="alignright" width="150"] Matt Christian, Cushman & Wakefield | Commerce[/caption] The Seattle office market has been a shining example of strength and solidity. Compared to the U.S. job rate, which expanded by 2.4 percent over the past year to drop the unemployment rate to just 5.5 percent, the Seattle-Tacoma-Bellevue Metropolitan Statistical Area is looking good. Seattle added jobs at a rate of 3.1 percent in the first quarter of 2015. It also saw..
SEATTLE — Expedia (NASDAQ: EXPE) has announced its plan to purchase Amgen's waterfront campus in Seattle for $228.9 million. The online travel company will use the 40-acre campus for its new headquarters. Expedia plans to update the 750,000-square-foot space with a new modern design. The acquisition includes additional land that could be used for future expansion. The campus is located at 1201 Amgen Court W. The new headquarters features views of downtown Seattle, Mt. Rainier, the..
SEATTLE – Presbyterian Retirement Communities Northwest (PRCN) has added two new members to its team. Paul Aigner will serve as vice president of development and Eve Jakoboski will act as corporate human resources director. Aigner has more than 30 years of experience in real estate design, construction and development within seniors living and healthcare industries. Jakoboski has 19 years of human resources and executive management experience. She spent the majority of that time in the..
VANCOUVER, WASH. – The 520-unit Iron Gate Mill Plain Self-Storage facility in Vancouver has received $4 million in long-term financing. The facility is located at 12406 SE 5th Street. It was built in 2010. The loan features a 10-year term and a 25-year amortization schedule. It was arranged by Peter C. Norrie of Cohen Financial. The funds were provided by a correspondent life insurance company.
[caption id="attachment_120785" align="alignright" width="150"] Michael Horner, JLL Retail [/caption] Seattle has come a long way since the 1971 billboard reading “will the last person leaving Seattle turn the lights off?” The greater Seattle economy and real estate market has continued to be one of the nation’s top- performing locales, even exceeding its prior 2007 peak. Large corporations such as Amazon, Boeing, Microsoft and Starbucks, along with many independent startup companies,..