Seattle’s HOT topic in print and over the air today

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Puget Sound Business Journal
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Could Seattle really end single-family zoning? Economist says ‘it’s a little shocking’

Published: July 8, 2015

For about a month, some members of Mayor Ed Murray’s housing committee have been publicly saying that if Seattle is to stand a chance at reining in the skyrocketing cost of housing, development of denser, more compact neighborhoods is necessary.

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The 4th Asset Class: Real Estate

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Real Estate as the fourth asset class is finally becoming a reality. Why is this important? Well, the amount of capital that has and will flow into our industry is astonishing. Billions of dollars, an additional $500 billion to be exact. This money will make our market more liquid, provide for stability in markets and will change the way properties are sold. Below is a great article describing the long climb the industry is making to be at the table with stocks and bonds.

I have highlighted some key thoughts but here are some items changing right now:
–Yield compression
–70% of institutions outsource the management of their real estate assets
–Prices are ahead of fundamentals

At Lee and Associates, we have been selling a number of big and small assets this year (Over $95 million already in 2015). If you want to talk more about this or the market, give me a call or email me.

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Another CRE Northwest/ NAI Puget Sound Properties transaction completed

Puget Sound Business Journal
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Diamond in the rough: 1,900-unit storage project rising on former Mastro property in South Seattle

Published: June 30, 2015

Seven years ago, developer Michael R. Mastro proposed a big self-storage project on South Dearborn Street in Seattle. Now it’s finally getting built.

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© 2015 American City Business Journals Inc. All rights reserved. bizjournals digital network


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CraigHillTeam changes Name to CRE Northwest

CraigHillTeam changes name to CRE Northwest all other things remain the same. More to come.

Craig E. Hill, SIOR
Senior Vice President
NAI Puget Sound Properties
1700 Seventh Avenue, Suite 2050
Seattle, WA 98101 USA
Direct +1 206 332 1493
Fax +1 206 332 1499

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The most expensive class A submarkets – Nationally

Craig E. Hill, SIOR
Senior Vice President
NAI Puget Sound Properties
1700 Seventh Avenue, Suite 2050
Seattle, WA 98101 USA
Direct +1 206 332 1493
Fax +1 206 332 1499

Blog | Twitter | Vcard
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Seattle Commercial Real Estate News

Amazon now employs more people than Microsoft Inc. now employs more than 109,000 workers, which is more than 28,000 more than it did a year ago and the company now employs more people than Microsoft Corp.

Amazon Gets Design Approval for Seattle Campus ‘Biodomes’

also redefining architecture and work-space. Amazon just received approval from Seattle’s design review board for a five-story office building to be constructed

Real Estate Buzz: It’s show time for The Martin apartments Seattle Daily Journal of Commerce (subscription)

Last week was opening night for Vulcan Real Estate’s latest project: The Martin, a 24-story apartment tower next to Seattle Cinerama at Fifth and Lenora.

Challenge for Seattle’s Next Mayor: Making Housing Affordable KPLU News for Seattle and the Northwest

Seattle rents have climbed 7 percent in the past year—faster than any other big city in the country, according to real estate data firm Reis Inc. And the median

Talon Private Capital pays $52 million for North End office buildings Puget Sound Business Journal (Seattle)

Officials of Talon Private Capital of Seattle and national real estate company PCCP LLC said they have acquired two office buildings north of Seattle for a total of


Full-block office on Seattle’s ‘Pill Hill’ sells for $35 million Puget Sound Business Journal (Seattle) (blog)

Healthcare Realty Trust, a publicly traded real estate investment trust based in 47-story Wells Fargo Center in downtown Seattle sold for $396 a square foot.

Amazon plans 2 Fla. distribution centers and 1 in Baltimore Inc. said it plans to build two new distribution centers in Florida and one in Baltimore that will hire a total of 2,000 people.

Revitalized Rainier Square envisioned The Seattle Times

a high-rise office tower with ground-floor retail could replace Rainier Square. to do something iconic, like the Seattle Public Library, Space Needle and Pike

Hemisphere’s greenest new building is in Lacey Seattle Post Intelligencer

A local building recently was certified as the most environmentally friendly in the Western Hemisphere and the third-greenest in the world, by one measure.

Commercial property roundup: SKB, Goodman are among this Puget Sound Business Journal (Seattle)

Goodman Real Estate of Seattle bought this building in Seattle’s Pioneer Square for SKB hired Chris Holden, a commercial real estate veteran in Seattle,

New Seattle Hotel/Condo Highrise Planned for Denny Triangle Gayapolis

Officials of GIS International Group said Wednesday that they’re starting to plan development of a hotel-condo building in the Denny Triangle area of downtown

Tommy Bahama moving headquarters to new Seattle building

Skanska USA plans to break ground Wednesday on its 400 Fairview office and retail project in Seattle now that it has poached tenant Tommy Bahama from Vulcan Inc.

Bellevue church is expected to sell its prime downtown site soon

After years of study, a Bellevue church is getting close to selling a valuable piece of downtown property where high-rise office and residential towers could be built.

Schnitzer West sells two Eastside properties for $476 million

Seattle commercial real estate company Schnitzer West had a $475.5 million payday Tuesday when it sold two assets — the Bravern Signature Residences in Bellevue and a collection of 11 office buildings in Bothell — to two different buyers.

Hemmed in by development, metal plating firm leaving Seattle

One of Ballard’s oldest manufacturers is leaving town, the latest in a string ofdefections that are transforming the traditionally maritime industrial area of Seattle.

Intel selling DuPont site, plans to reduce staff there

Tech giant Intel Corp. plans to sell its campus in DuPont but lease back some of the space, company spokeswoman Chelsea Hossaini said Monday.

High-rise development site in Seattle’s Belltown sells

A property in the Belltown area of downtown Seattle sold Thursday for $11.5 million, according to public records.

The seller, HAL Real Estate Investments, had obtained a master-use permit from the city to build a 40-story residential tower on the property at 2116 Fourth Ave. Dean’s Transmission is currently operating on the property.

Grosvenor Buys 11 Office Buildings in Seattle Suburb for $167M Commercial Property Executive

Seattle’s Eastside submarket continues to absorb significant amounts of office space,” added James Delmotte, senior vice president/investment for Grosvenor

Pre-built apartments arrive in Belltown Seattle Post Intelligencer

The first apartments of a 49-unit Belltown building arrived by truck this past weekend and were craned into place. OneBuild assembled the apartments in its a

Security wins Vancouver apartment portfolio with $64M bid Portland Business Journal (blog)

A Seattle-based real estate investor has prevailed in one of the most competitive local apartment offerings in recent memory. Security Properties secured three

Bringing office space to Pike/Pine, Dunn and Hobbes ready to dig in CHS Capitol Hill Seattle

Dunn plans to build on the experience gained operating the Agnes Underground space and build the new project as office and coworking space connected

New apartment building in Seattle sells for $32 million

The Seattle group that developed the GreenHouse apartment building in Seattle’s Columbia City neighborhood has sold the property — after saying earlier that it couldn’t let it go.

Officials of JB Matteson Inc., a San Mateo, Calif.-based private real estate investment manager, announced the company bought the 124-unit project at 3701 S. Hudson St. for $32.1 million

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Seattle Commercial Real Estate News

RN74’s Boxed Lunches; Skylark’s New Owners; Shanik’s Now Eater

But as Seattle Met points out, "only in half of the dining room, so walk-ins still have plenty of real estate." Right now, reservations are being accepted by phone,

Shutdown causes anxiety for buyers and sellers Washington Post (blog)

clients in the Washington area, many buyers and sellers have expressed anxiety, says Ellen Haberle, economist with Redfin real estate brokerage in Seattle.

Washington Post (blog)
Intercontinental Acquires Pair of Apartment Buildings

SEATTLE-Intercontinental Real Estate Corporation, a national real estate investment firm headquartered in Boston has acquired Belay and NOBA apartments.

Madison Marquette Grabs 202 KSF MU Property in Seattle Suburb Commercial Property Executive

Madison Marquette Grabs 202 KSF M-U Property in Seattle Suburb The Washington, D.C.-based private real estate investment and operating company, did

Commercial Property Executive
Research shows average Seattle rent is equal to average mortgage

Real estate agents have noted this new phenomenon in the Seattle housing market. Higher rent has forced many out, but demand for houses has brought

How The Shutdown Is Hurting The Housing Market KPLU News for Seattle and the Northwest

Various federal agencies play greater or lesser roles in real estate transactions. With most of them sidelined, simple matters such as closing on mortgages are

Seattle-based Mithun designing Ross Perot’s new office Puget Sound Business Journal (Seattle)

Mithun, a Seattle architecture firm, has won the national competition to design Marc Stiles covers commercial real estate and government for the Puget Sound

Feds begin another tug of war over the Mastros’ jewels

Seattle startups scramble for office space as TechDwellers gives GeekWire

techdwellers1 GeoRiot founder Jesse Lakes was excited to secure his company’s first office space earlier this year, picking the TechDwellers incubator in

City may condemn choice waterfront property The city of Seattle might force an elderly Spokane woman to sell a prime waterfront development site and use it for short-term parking.

Feds begin another tug of war over the Mastros’ jewels Puget Sound Business Journal (Seattle)

Rigby spoke last week to a group of commercial real estate professionals in Seattle about the “cat-and-mouse game at Mr. Mastro and I have played. It started

Fifth + Columbia Back On Thanks To Foreign Investors Curbed Seattle

Back in 2008, Daniels Real Estate and Stockbridge Capital Partners’s Fifth + Columbia project was about to get off the ground when financial issues forced a

Foreign money will help re-launch construction of Seattle tower Puget Sound Business Journal (Seattle)

Daniels Real Estate plans to start construction of the 43-story Fifth + Columbia tower in Seattle. Foreign capital is helping to get the project going. Marc Stiles

Major redevelopment planned for Rainier Square in downtown Seattle (slide show) The University of Washington plans to select a developer next month to transform a large portion of Rainier Square, part of the university’s prime property holdings in downtown Seattle.

R.C. Hedreen Co. submits new drawings of its Seattle mega hotel (slide show) The latest renderings of a proposed convention-center hotel planned for downtown Seattle show a tapered, 41-story tower rising from Howell Street between Eighth and Ninth avenues.

Trammell Crow plans office tower near campus (slide show) City of Seattle records show that Trammell Crow Co. wants to develop a 14- to 22-story office building in downtown’s Denny Triangle neighborhood.

Foss moving Seattle shipyard operations to Everett mill site Saltchuk, the parent of Foss Maritime, says it’s moving 250 shipbuilding jobs from its Foss yard near the Ballard Bridge to a closed pulp mill site it is buying on the Everett waterfront.

UW has big plans for its prime downtown Seattle real estate The Seattle Times

A new office tower is one of the likely changes as downtown’s largest property owner charts a fresh course for its holdings that could bring more money to the

Tacoma’s turn: Arrival of State Farm moves city toward its new destiny

It has been a tough three years for downtown Tacoma since Russell Investments moved its headquarters to, of all places, rival Seattle.

Seattle authorizes a Sodo improvement district and Pioneer Square Puget Sound Business Journal (Seattle)

The council voted, 8-1, to allow Seattle real estate development company Urban Visions to build a 130-foot-tall office and apartment building on the east side of

Trammell Crow buys downtown Bellevue site for $24M Trammell Crow Co. paid Wasatch Properties $24.1 million for a development site in downtown Bellevue, according to King County transaction records Tuesday

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