MARYSVILLE, TUKWILA AND KENT, WASH. — Gantry has secured an $11 million permanent loan to refinance a portfolio of Seattle-area industrial properties in Marysville, Tukwila and Kent. Totaling 124,640 square feet, the four-building portfolio is fully leased to multiple tenants. Mike Wood and Tim Brown of Gantry represented the borrower, a private real estate investor. A life insurance company provided the 10-year, fixed-rate loan, which features interest-only payments for the full term.
WOODLAND, WASH. — Trammell Crow Co. (TCC) has broken ground on Woodland Industrial Park, a speculative development in Woodland, approximately 22 miles from Portland, Ore. Slated for delivery by fall 2026, Woodland Industrial Park will feature two buildings offering a total of 931,186 square feet of Class A space being offered for lease or sale. Situated on 66 acres at 345 N. Pekin Road, Woodland Industrial Park will include a 655,094-square-foot cross-dock warehouse with a clear height of 40 feet and 130 trailer parking stalls and a 276,092-square-foot rear-loaded building with a clear height of 36 feet and yard area that can accommodate up to 98 trailer parking stalls. Mackenzie designed the project, while Sierra Construction is serving as general contractor. Capacity Commercial Group is marketing the development.
SEATTLE — Kidder Mathews has brokered the sale of a three-property apartment portfolio in Seattle. Los Angeles-based Vista Investment Group acquired the asset from long-time private owner John Stephanus for a total of $35.2 million. The portfolio includes: – Charbern Apartments, a 67-unit property located at 1705 Belmont Ave. that sold for $12.3 million. – Stockbridge Apartments, a 76-unit asset at 1330 Boren Ave. that sold for $11.5 million. – Carolina Court Apartments, a 72-unit community at 527 Eastlake Ave. that sold for $11.3 million. Dylan Simon, Jerrid Anderson, Matt Laird and JD Fuller of Simon | Anderson Multifamily at Kidder Mathews represented the seller and procured the buyer in the deal.
VANCOUVER, WASH. — Priority Capital Advisory has arranged a $12 million bridge loan for Hudson West, a 50-unit Class A apartment property in Vancouver. The financing was arranged for Cascadia Development Partners to replace a maturing construction loan, extending financial flexibility through lease-up stabilization. Located at 2411 Broadway St., Hudson West offers 11 studio, 25 one-bedroom and 14 two-bedroom units in a three-story building. Each unit features private balconies, gourmet kitchens, walk-in closets and high-end finishes. Onsite amenities include a coffee bar, multiple common areas and 39 secured parking spaces.
SEATTLE — Newmark has arranged a $435 million loan for the refinancing of Starbucks Center, the coffee giant’s nearly 1.5 million-square-foot headquarters campus located at 2401 Utah Ave. S in Seattle. Deutsche Bank provided the loan to the owner, a partnership between two local real estate companies, Nitze-Stagen & Co. Inc. and Daniels Real Estate. According to the property’s Wikipedia page, the main building was originally constructed in 1915 as a retail store for Sears, Roebuck & Co. Starbucks (NASDAQ: SBUX) first took occupancy of the property in 1993. At that time, the property was known as SoDo Center after its namesake neighborhood, which is one of Seattle’s main industrial districts, per Wikipedia. Since then, the campus has undergone more than 60 expansions over the past three decades to accommodate the company’s growth, according to Newmark, which also notes that Starbucks has invested more than $300 million of its own capital in the Seattle campus to date. In addition, Starbucks recently signed a lease extension through 2038. Jonathan Firestone, Jordan Roeschlaub, Blake Thompson and Kevin Shannon led the transaction for Newmark. “The closing of this refinancing positions Starbucks Center for continued excellence as one of the city’s premier office assets,” …
AUBURN, WASH. — Northmarq has arranged the sale of Ellingson Crossing, a 15,270-square-foot retail center located within the Auburn/Kent Valley Industrial District, roughly 20 miles south of Seattle. Starbucks Coffee anchors the property, which was originally built in 2007. Tenants at the center include Wingstop, Domino’s Pizza, Taco Time, American Family Insurance and You First Dental Care. Sean Tufts, Kevin Adatto and Joe Dugoni of Northmarq’s Pacific Northwest Commercial Investment Sales team represented the local private seller in the transaction. New York City-based Curbline Properties was the buyer.
BURIEN, WASH. — Pillar Properties has completed the recapitalization of The Maverick, an apartment community in Burien, by bringing in Stockbridge Capital Group as a joint venture equity partner. Eli Hanacek, Kyle Yamamoto, Mark Washington and Natalie Kasper of CBRE represented Pillar Properties in the transaction. Located at 15045 5th Ave. SW, The Maverick offers 229 studio, one- and two-bedroom units. Built in 2017, the property includes a movie theater; two-story, 24-hour fitness center; a yoga center; and a resident club lounge.
TACOMA, WASH. — Dermody has purchased 40.8 acres of land at 17027-17028 Canyon Parkway East In Tacoma for an undisclosed price. The fully entitled site will become LogistiCenter at Frederickson, a two-building industrial park. Slated for delivery in second-quarter 2026, Building A will offer 443,420 square feet and Building B will feature 91,728 square feet. Additionally, the property will feature a trailer lot. Andrew Hitchcock, Andrew Stark and Zac Snedeker of CBRE are handling leasing for the project. Brett Hartzell of CBRE’s National Partners assisted with the acquisition.
BELLEVUE, WASH. — Skanska Commercial Development, with Pickard Chilton as architect, has completed The Eight, a 25-story office tower at 10770 NE 8th St. in Bellevue. The 799,933-square-foot tower features ground-floor retail space, an office lobby, publicly accessible lobby lounge, column-free floor plates, 14-foot ceilings and an independent pavilion. Project partners included Skanska USA as general contractor, Adamson Associates as architect of record, Magnusson Klemencic Associates as structural engineer and Michael Hsu Office of Architecture as interior designer.
OLYMPIA, WASH. — Nearon Enterprises has acquired Briggs Village, an apartment community in Olympia, from Glencrest Group for an undisclosed price. Situated in the 137-acre Briggs Village master-planned community, the asset features 72 apartments. The community was built in 2019. Ryan Harmon, Philip Assouad, Giovanni Napoli, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the buyer and facilitated the transaction.
