{"id":1004067081,"date":"2013-02-11T23:48:34","date_gmt":"2013-02-12T07:48:34","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=101282"},"modified":"2022-12-08T19:59:43","modified_gmt":"2022-12-09T03:59:43","slug":"schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\/","title":{"rendered":"Schnitzer West Raises Funds Through Office Sale for Speculative Industrial, Office Development"},"content":{"rendered":"<p class=\"MsoNormal\"><em>By Alex Girda, Associate Editor<\/em><\/p>\n<p class=\"MsoNormal\">Schnitzer West has completed the sale of a number of office buildings in Bothell, <em>The Puget Sound Business Journal<\/em> recently wrote. They marked only the latest activity by the company in the South Puget Sound submarket. It is also reportedly gearing up to develop industrial properties in the area and is searching for good spots for office development. <span>\u00a0<\/span><\/p>\n<p class=\"MsoNormal\">Schnitzer West sold seven office buildings to Eastside investor Stan Rosen\u00a0as part of a portfolio traded for $25.8 million. The assets are located in Bothell, in the North Creek office campus. The deal was made for a 126,000-square-foot campus and Tech Center II, an office building totaling 31,000 square feet. The deals are reportedly fundraising for Schnitzer\u2019s two major office developments in the greater Seattle area: Madison Centre and a Bellevue project.<\/p>\n<p class=\"MsoNormal\">Where industrial real estate is concerned,<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/02\/valley-avenue.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-101295\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/02\/valley-avenue.jpg\" alt=\"\" width=\"300\" height=\"128\" \/><\/a> the company looks intent on developing property in South Puget Sound, following a pattern it has pursued with Valley Avenue Business Park in Puyallup. After Schnitzer West completed development on that 443,000-square-foot business park and had leasing in place for the facility, it sold it for $41.6 million.<\/p>\n<p class=\"MsoNormal\">With a proven business model and the industrial market improving in Pierce County, the company stands a chance of achieving a profitable investment on its development slate. Speculative development is popular in the South Puget Sound, according to the\u00a0<em>PSBJ<\/em>, with as much as 2 million square feet of industrial space set to start construction in 2013.<\/p>\n<p>Image courtesy of\u00a0<em>valleyavenue.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Seven office buildings, part of Schnitzer West&rsquo;s portfolio recently traded for $25.8 million, to Eastside investor Stan Rosen. The assets are located in Bothell, in the North Creek office campus. The deal was made for a 126,000-square foot campus, and Tech Center II, an office building totaling 31,000 square feet of office space. Speculations explain the deals as fundraising for Schnitzer&rsquo;s two major office developments in the greater Seattle area: Madison Centre and a Bellevue project.<\/p>\n","protected":false},"author":41,"featured_media":1004506504,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1610],"tags":[1815],"class_list":["post-1004067081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-seattle","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Schnitzer West Raises Funds Through Office Sale for Speculative Industrial, Office Development - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Schnitzer West Raises Funds Through Office Sale for Speculative Industrial, Office Development\" \/>\n<meta property=\"og:description\" content=\"Seven office buildings, part of Schnitzer West&rsquo;s portfolio recently traded for $25.8 million, to Eastside investor Stan Rosen. The assets are located in Bothell, in the North Creek office campus. The deal was made for a 126,000-square foot campus, and Tech Center II, an office building totaling 31,000 square feet of office space. Speculations explain the deals as fundraising for Schnitzer&rsquo;s two major office developments in the greater Seattle area: Madison Centre and a Bellevue project.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-02-12T07:48:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T03:59:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/valley-avenue.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alex Girda\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\\\/\"},\"author\":{\"name\":\"Alex Girda\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/540f0253de89dedaae7684239611b81c\"},\"headline\":\"Schnitzer West Raises Funds Through Office Sale for Speculative Industrial, Office Development\",\"datePublished\":\"2013-02-12T07:48:34+00:00\",\"dateModified\":\"2022-12-09T03:59:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\\\/\"},\"wordCount\":260,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/valley-avenue.jpg\",\"keywords\":[\"National\"],\"articleSection\":[\"News\",\"Seattle\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\\\/\",\"name\":\"Schnitzer West Raises Funds Through Office Sale for Speculative Industrial, Office Development - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/valley-avenue.jpg\",\"datePublished\":\"2013-02-12T07:48:34+00:00\",\"dateModified\":\"2022-12-09T03:59:43+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/540f0253de89dedaae7684239611b81c\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/valley-avenue.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/valley-avenue.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Schnitzer West Raises Funds Through Office Sale for Speculative Industrial, Office Development\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/540f0253de89dedaae7684239611b81c\",\"name\":\"Alex Girda\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Alex-Girda.jpg?w=96\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Alex-Girda.jpg?w=96\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Alex-Girda.jpg?w=96\",\"caption\":\"Alex Girda\"},\"description\":\"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.\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/alex-girda\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Schnitzer West Raises Funds Through Office Sale for Speculative Industrial, Office Development - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\/","og_locale":"en_US","og_type":"article","og_title":"Schnitzer West Raises Funds Through Office Sale for Speculative Industrial, Office Development","og_description":"Seven office buildings, part of Schnitzer West&rsquo;s portfolio recently traded for $25.8 million, to Eastside investor Stan Rosen. The assets are located in Bothell, in the North Creek office campus. The deal was made for a 126,000-square foot campus, and Tech Center II, an office building totaling 31,000 square feet of office space. Speculations explain the deals as fundraising for Schnitzer&rsquo;s two major office developments in the greater Seattle area: Madison Centre and a Bellevue project.","og_url":"https:\/\/www.commercialsearch.com\/news\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2013-02-12T07:48:34+00:00","article_modified_time":"2022-12-09T03:59:43+00:00","og_image":[{"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/valley-avenue.jpg?w=1024","width":1024,"height":1024,"type":"image\/jpeg"}],"author":"Alex Girda","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\/"},"author":{"name":"Alex Girda","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/540f0253de89dedaae7684239611b81c"},"headline":"Schnitzer West Raises Funds Through Office Sale for Speculative Industrial, Office Development","datePublished":"2013-02-12T07:48:34+00:00","dateModified":"2022-12-09T03:59:43+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\/"},"wordCount":260,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/valley-avenue.jpg","keywords":["National"],"articleSection":["News","Seattle"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\/","url":"https:\/\/www.commercialsearch.com\/news\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\/","name":"Schnitzer West Raises Funds Through Office Sale for Speculative Industrial, Office Development - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/valley-avenue.jpg","datePublished":"2013-02-12T07:48:34+00:00","dateModified":"2022-12-09T03:59:43+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/540f0253de89dedaae7684239611b81c"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/valley-avenue.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/valley-avenue.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/schnitzer-west-raises-funds-through-office-sale-for-speculative-industrial-office-development\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Schnitzer West Raises Funds Through Office Sale for Speculative Industrial, Office Development"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/540f0253de89dedaae7684239611b81c","name":"Alex Girda","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Alex-Girda.jpg?w=96","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Alex-Girda.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Alex-Girda.jpg?w=96","caption":"Alex Girda"},"description":"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.","url":"https:\/\/www.commercialsearch.com\/news\/author\/alex-girda\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/valley-avenue.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004067081","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004067081"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004067081\/revisions"}],"predecessor-version":[{"id":1004612608,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004067081\/revisions\/1004612608"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004506504"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004067081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004067081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004067081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}