Washington

Wig Properties Buys Red Lion Hotel Bellevue for $35.4M

by Nellie Day March 4, 2015

BELLEVUE, WASH. — Wig Properties has acquired the 181-room Red Lion Hotel Bellevue for $35.4 million. The five-building hotel is located at 11211 Main Street. Red Lion Hotel Bellevue was built in 1969 and contains 5,700 square feet of meeting space. The hotel is situated in the planned East Main light rail station’s transit-oriented development overlay. It includes more than six acres of land, with Interstate 405 to the east and the Bellevue CBD to the north. The seller, Red Lion Hotels Corporation, was represented by Jason Rosauer, Gary Guenther and Rob Anderson of Kidder Mathews.

March 4, 2015

Office Washington Western

Sound Physicians Leases Space at Umpqua Bank Building in Tacoma

by Nellie Day February 24, 2015

TACOMA, WASH. – Sound Physicians has signed an 11-year lease for space at the Umpqua Bank Building in downtown Tacoma. The building is located at 1498 Pacific Ave. The office serves as the central hub for the hospitalist and transitional care organization. The company manages hospitalist, critical care and skilled nursing care for nearly 190 hospitals and close to 100 skilled nursing facilities that work in conjunction with these hospitals in 34 states. The administrative support staff in Tacoma includes 150 colleagues.

February 24, 2015

Hospitality Washington Western

Provenance Hotels, NBP Capital to Buy the Roosevelt Hotel in Seattle

by Nellie Day February 18, 2015

SEATTLE — Provenance Hotels and partner NBP Capital have agreed to purchase the 151-room Roosevelt Hotel in Seattle for an undisclosed sum. The hotel is located at intersection of 7th Avenue and Pine Street in the city’s Downtown region. The Roosevelt Hotel is situated across from the Washington State Convention Center, near the Central Business District, Pike Place Market and the waterfront. Provenance Hotels had owned the property with the seller, North Coast Washington LLC, since 1985. The property will continue to be affiliated with Coast Hotels for the next 60 days until Provenance Hotels assumes management. Provenance Hotels and NBP Capital are both headquartered in Portland, Ore. They are equal partners in the acquisition. The partners plan to bring a marquee restaurant to the Roosevelt Hotel, which originally opened in 1930. The pair also purchased the historic Woodlark and Cornelius buildings in Downtown Portland earlier this month.

February 18, 2015

Retail Washington Western

Overlake Shopping Center in Bellevue Sells for $30M

by Nellie Day February 12, 2015

BELLEVUE, WASH. – Overlake Shopping Center, a 49,167-square-foot, grocery-anchored center in Bellevue, has sold to Panos Properties for $30 million. The fully leased property is located at 15555-15585 NE 24th Street. It is anchored by Trader Joe’s, PetSmart and Walgreens, the seller. Walgreens signed a 20-year lease with Panos as part of the sale-leaseback transaction. Panos Properties was represented by Reynolds Haas of Colliers International. Walgreens was represented by Lauren Powell of Powell Development Company in this off-market transaction.

February 12, 2015

Office Washington Western

DiscoverOrg Leases 27,043 SF of Office Space in Vancouver

by Nellie Day February 5, 2015

VANCOUVER, WASH. – DiscoverOrg has leased 27,043 square feet of office space in Vancouver. The space is located at the 805 Broadway Building in the city’s downtown region. It was formerly occupied by CenturyLink. The sales and marketing intelligence data provider was represented by Rich Sabel and Tim Pfeiffer of Norris & Stevens. The landlord, Schlesinger Companies, was represented by Doug Bartocci and Tamara Fuller of Norris Beggs & Simpson, NAI.

February 5, 2015

Washington Western

Presbyterian Retirement Communities Northwest Welcomes New Team Members

by Nellie Day January 27, 2015

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 hospitality and healthcare sectors. PRCN is a not-for-profit, faith-based organization with more than 50 years of experience.

January 27, 2015

Hospitality Washington Western

Value Place Partners with West77 to Roll Out 25 New Hotels in Washington

by Nellie Day January 9, 2015

BELLEVUE, WASH. — Value Place and West77 Partners LLC have teamed up to develop 25 new hotels in the State of Washington. The first three hotels are expected to break ground this spring. They will be located within the Seattle region. Value Place has about 200 extended-stay hotels in 32 states. The development agreement between Value Place Franchise Services LLC and West77 aims to roll out or commence construction on all the hotels over the next four years. West77’s partner company in this agreement is Keystone National Group, which develops multifamily and commercial properties. Value Place Property Management will manage the new West77 Partners portfolio.

January 9, 2015

Multifamily Washington Western

Martha Lake Apartments Near Seattle Changes Hands

by Nellie Day January 8, 2015

SEATTLE – The 155-unit Martha Lake Apartments in the Seattle submarket of Lynnwood has sold to Waterton Associates LLC for an undisclosed sum. The community is located at 16626 6th Ave. West, just 15 miles north of Downtown Seattle. This was Waterton’s sixth property acquisition in 2014, and the first community it has owned in the Seattle area since 2004.

January 8, 2015

Multifamily Washington Western

Newport Heights Apartments in Tukwila Sells for $10.5M

by Nellie Day December 23, 2014

TUKWILA, WASH. – The 80-unit Newport Heights Apartments in Tukwila has sold to Woodspear Newport Heights LLC for $10.5 million. The community is located at 5600 S. 152nd Street. The buyer represented itself in this transaction, while the seller, HRA SPVEF II LLC, was represented by Joe Levin, Tim McKay and Dan Chhan of Colliers International.

December 23, 2014

Multifamily Washington Western

Berskhire Income Realty Buys Elan Redmond Town Center in Redmond

by Nellie Day December 18, 2014

REDMOND, WASH. – Berkshire Income Realty has acquired the 134-unit Elan Redmond Town Center apartment complex for an undisclosed sum. The community is located at 16325 Cleveland Street in Redmond. It was built in 2013. Berkshire Communities, the property management division of Berkshire Group, will manage the apartment community. The seller was Greystar and equity partner Resmark Apartment Living.

December 18, 2014

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