Seattle
Stonebridge Buys Seattle Hilton from R.C. Hedreen for $60M
By Alex Girda, Associate Editor In a deal valued at $60 million, Stonebridge Cos. has acquired the Seattle Hilton from R.C. Hedreen Co., the Puget Sound Business Journal reports. The 237-key property, which will continue to operate under the Hilton flag, is located at 1301 Sixth Avenue in Downtown Seattle. Englewood, Colo.-based Stonebridge, which operates […]
SLU Rezoning Plan Features Towers and Affordable Housing
By Alex Girda, Associate Editor A proposed rezoning plan unveiled by Mayor Mike McGinn for Seattle’s thriving South Lake Union submarket envisions apartment and condo towers rising up to 400 feet above street level and could add as many as 12,000 new households to the neighborhood. The proposal, which requires City Council, provides for affordable […]
Regency Plans 280,000 SF Retail Center for Issaquah
By Alex Girda, Associate Editor Issaquah Highlands, a master-planned community east of Downtown Seattle, will get a 280,000-square-foot grocery-anchored shopping center. Regency Centers will develop Grand Ridge Plaza on a vacant 25-acre parcel situated in the heart of the development. Regency’s forthcoming development will be anchored by Safeway, which will occupy 44,543 square feet. A […]
JMA Ventures Buys Redmond Asset from Clarion for $39M
By Alex Girda, Associate Editor JMA Ventures has expanded its Puget Sound portfolio with the $38.5 million acquisition of the Offices at Riverpark in Redmond. The San Francisco-based investor bought the property from Clarion Partners, which also developed the 106,281-square-foot Class A property. That translates to a sale price of $362 per square foot for […]
Bosa Launches Downtown’s First Condo Tower Since 2007
By Alex Girda, Associate Editor Downtown Seattle’s first high-rise condominium project in more than five years is getting under way in the Denny Triangle this month as Bosa Development Corp. starts work on the Insignia, a pair of 41-story towers that will include as many as 700 units between them, the Seattle Times reported. Located on the former Teatro […]
Kilroy’s $330M Buying Spree Expands Puget Sound Footprint
By Alex Girda, Associate Editor With $330 million in acquisitions closed or under contract, Kilroy Realty Corp. is cementing its status as a leading Puget Sound office owner. Last week the Los Angeles-based investement firm reported that it spent $145 million in two separate transactions to assemble a 417,000-square-foot campus in Seattle’s South Lake Union district, where Amazon’s development of a 3 million […]
Plaza 600 Trades for $55M as Amazon Plans Create Buzz
By Alex Girda, Associate Editor Amazon’s proposed 3 million-square-foot campus in South Lake Union is generating increased activity from investors and developers. Joshua Green Corp. paid $54.9 million for the Plaza 600 Building, a 209,256-square-foot, 20-story office tower near the future site of the Amazon campus, the Puget Sound Business Journal reported. Plaza 600’s seller, […]
Stadium Place Tower Wins Key Approval From City Panel
By Alex Girda, Associate Editor The $180 million Stadium Place development got a a major boost when the Pioneer Square Preservation Board unanimously approved the controversial design for the project’s second apartment tower. Designed by ZGF architects, the 333-unit South Tower will reach an elevation of 240 feet, only 30 feet lower than CenturyLink Field, which is less than 500 feet away […]
Smith Tower Gets Five New Leases on Life
By Alex Girda, Associate Editor A few months after coming under the ownership of CBRE Capital Partners, the historic Smith Tower in Downtown Seattle is taking the first small steps toward rebounding from years of decline. A CBRE leasing team of first vice president Christian Shevchenko, vice president Cavan O’Keefe, senior associate Nick Carkonen and […]
$480 Million Deal for Russell Investments Center is West’s Biggest Since 2006
By Alex Girda, Associate Editor In the western U.S.’s largest single-asset office sale since 2006, CommonWealth Partners paid $480 million for Russell Investments Center in Seattle’s central business district. A CBRE Group Inc. team led by Kevin Shannon represented the seller, Northwestern Mutual. The transaction adds the property to another nearby CommonWealth asset–Safeco Plaza, a 755,000-square-foot, 50-story […]