Alex Girda
Alex is a senior editor with Multi-Housing News and Commercial Property Executive who has more than a decade of experience in the industry. Mainly focused on data-driven exploits, he works with Yardi Matrix and CommercialEdge to provide insights into the real estate market.
Colliers’ Carlsbad Teams Wrap $11M in Industrial, M-F Sales
Colliers International recently announced the completion of two separate real estate deals in the greater San Diego area that have gained a combined total of $11 million. It was recently announced that a multi-tenant industrial building and a 16-unit multifamily property were acquired by PacVentures, Inc. and San Diego Heritage Partners LLC, respectively. The Carlsbad office of Colliers International handled representation of both deals, on behalf of all parties involved.
Market Snapshot: Seattle One of Strongest RE Markets in the U.S.
Now that most analysts are calling the official end of the real-estate economic downturn, Seattle is one of the big winners among American cities.
LMN Architects Reportedly Chosen as Lead for Washington State Convention Center Expansion
As Seattle continues to grow in terms of office and residential real estate, the city has for some time remarked the need of expanding its offering in terms of major events. To that effect, the Washington State Convention Center has announced that a team consisting of GGN, LMN Architects and SHoP is on track to win the competition meant to select an expansion of the center. According to recent reports, negotiations and a legal agreement are the only things keeping officials from an announcement.
PM Hospitality Set to Operate New Portland Hotel, Part of Hilton’s Most Recent Brand
The growing appeal of the Pacific Northwest means that more companies are looking to establish a presence in the region. Hospitality has been a huge component in the conversation regarding major cities in the area, such as Seattle and Portland. The two largest cities in the Pacific Northwest are currently both looking for options to increase the amount of convention space and the number of rooms that could accommodate the growing amount of tourists and business travelers. The latest hospitality company announcing an expansion in the area is PM Hospitality Strategies, Inc., with the company being selected to operate a new Canopy by Hilton facility in Portland’s Pearl District.
Republic Services Starts 110,000-SF Expansion at North Las Vegas Recycling Plant
Republic Silver State Disposal, Inc. a subsidiary of Republic Services, Inc. recently started construction on a brand new recycling facility in North Las Vegas. Once completed, the new facility will effectively double the current residential recycling capacity in southern Nevada. Advanced recycling tehnologies will be employed at the building, which will be added to an existing facility in the Southern Nevada Recycling Complex. By increasing the capacity, the SNRC is set to become the largest residential recycling complex in the country.
Lowe, Alecta Announce First Hill Condo High-Rise Under Construction, First Project of Its Kind in Decades
Lowe Enterprises and Alecta have jointly announced that the partnership has begun construction on the latest high-rise condominium project in the downtown Seattle area. Set to be developed in the First Hill neighborhood of the city’s core, the project will be the first of its kind to take shape in this particular area of downtown in over 30 years, and one of the first such endeavors in the entire downtown area of Seattle since 2008.
Schuster Group Tops Off Walton Lofts Project in Belltown
Earlier this year, we covered part of The Schuster Group’s activity in the Seattle multifamily market, when the vertically integrated real estate company announced the sale of its Joseph Arnold Lofts, and the focus of its attention on a similar project in the proximity of that asset, the Walton Lofts. The developer broke ground on the project in February 2014, and has now announced that the project has been topped off, with an opening set for next summer.
Mayor Garcetti Reveals Part of Strategy to Fulfill Housing Demand in Los Angeles, Bulk Up Affordable Housing
For the first time since taking in 2013, Los Angeles Mayor Eric Garcetti has addressed one of the many problems plaguing the metropolis. The local official held the keynote speech at the Los Angeles Business Council’s 2014 Mayoral Housing, Transportation & Jobs Summit, recently organized at the UCLA Anderson School of Management, in which he discussed future policies that would remedy the city’s housing issues, with a focus on the affordable housing sector.
Financing In Place for Gaslamp Quarter Hotel, Montage’s 1st Pendry-Branded Property
Construction financing for a new Montage-branded hotel in San Diego is finally in place. George Smith Partners recently announced that the firm has arranged around $95 million in funding for a partnership consisting of The Robert Green Company and Montage Hotels & Resorts. The venture is planning a brand new property in the city’s downtown Gaslamp Quarter, one of the hospitality hotbeds in San Diego. The hotel development is a $138 million project that will be used as the official debut of the hospitality operator’s latest brand.
Prime Residential Acquires Two Seatac Residential Communities, Breaks South King County Record for Per-Unit Price
While the city of Seattle has held the spotlight in terms of residential deals, records seem to be falling elsewhere in King County. The current per-unit record fee in South King County was recently shattered as the 140-unit Belvedere Apartments community was acquired by Prime Residential for $28 million, or $200,000 per unit.