Seattle Commercial Real Estate News of the Day

Craig E. Hill SIOR
Senior Vice PresidentGrubb & Ellis Company
601 Union Street, Suite 1400, Seattle, WA 98101
Main: 206.388.3030 Fax: 206.388.3001 Cell: 206.491.9047

From: Jaroszewski, Thomas
Sent: Wednesday, February 15, 2012 12:57 PM
Subject: Seattle Commercial Real Estate News of the Day

Wednesday, February 15, 2012

Find Space Now! Seattle Times Daily Journal of Commerce Headline
Our lease listings Boeing locks in biggest plane order with Lion Air

154 new apartments for downtown Redmond

Our sale listings King County, cities announce plan to bolster aerospace jobs here Work is under way on Redmond Square Apartments, a 154-unit apartment complex at 7977 170th Ave. N.E. in downtown Redmond.

The 216,000-square-foot project will include two five-story, wood-framed buildings over a two-level concrete garage with 174 parking stalls. Buildings will house one-, two- and three-bedroom apartments and shared amenity spaces for residents.

Stricker Cato Murphy is the architect and Rushforth Construction is the general contractor.

The south corner of the complex is anchored by a circular six-story brick and metal prow. Other exterior details include metal balconies, glass railings, wood outriggers and soffits, and concrete and corrugated metal siding.

Redmond Square LLC is the developer and Cosmos Development is the owner’s representative.

Project team members are DCI Engineers (structural and civil engineer), Abossein Engineering (mechanical engineer) and Weisman Design Group (landscape architect).

Our local office profile US stocks mixed as Greek bailout talks inch along
Green broker info
Market Research Puget Sound Business Journal
Knowledge center Amazon unit Quidsi enters home-goods business
Research reports Sacramento group slams Seattle arena backer
Articles & white papers King County plans to boost aerospace manufacturing
Weekly market insight
2011 forecast
Enjoy Your Reading! Amazon reportedly in talks for downtown property
Commercial Property Executive Meet Seattle’s newest historic landmark
Daily Journal of Commerce Year-long rebuild of N. 85th St. starts this week
CoStar Group
GlobeSt Other News
National RE Investor Pathfinder Partners Closes on Two Distressed Apartment Communities
Realty News Report Amazon Said to Be in Talks to Purchase Land Near Its Seattle HQ
Real Estate Business HFF Arranges $85M Refi on 22-Property, 3 MSF Portfolio
Reis Tacoma City Council approves new big-box restrictions
Commercial Post Japan Airlines orders 10 Boeing 787s
New York Times County bonds, Boeing building: $25.6 million Paine Field facility for Dreamlifters
Weekly Market Insight
Total Consumer Credit

Excluding Mortgages, Seasonally Adjusted

Source: Federal Reserve, Grubb & Ellis

The amount of consumer credit outstanding rose sharply in November and December by annualized rates of 9.9 and 9.3 percent, respectively. Consumer credit has two main components: nonrevolving credit, which includes loans for automobiles, mobile homes, education and a few other categories, and revolving credit, primarily credit card loans. Since hitting bottom in May 2010, nonrevolving credit, which accounts for more than two-thirds of the total, has expanded every month except August 2011 when the debt ceiling debate reached a climax in Congress and confidence sagged. Revolving loan balances hit a low in April 2011 and have risen fitfully since then. Mortgage debt on one-to-four-family residences, which is not counted as consumer credit (and is not included in the chart) continues to decline, falling $59 billion in the third quarter of 2011 to $10.3 trillion. Thus, while consumers continue to shed mortgage debt, they are adding debt at a rapid pace to pay for vehicles and educations and at a modest pace on their credit cards. Growth in revolving credit helped lift consumer spending late last year, while the ongoing decline in outstanding mortgages is supporting robust levels of apartment leasing.

Thomas Jaroszewski| Research Manager | Grubb & Ellis Company
601 Union St Ste 1400 | Seattle, WA 98101 | (: 206.388.3000 | 7: 206.388.3001 | *:E-mail

About CRE Northwest

Specialist in office & investment real estate in Seattle & the Eastside
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