BY THE NUMBERS
PORTLAND—Though there are significant deliveries in 2018, don't expect too much movement in the industrial vacancy rate as 70% of that will be build-to-suit. That is according to recent numbers from Cushman & Wakefield. According to a recent market report, it's very likely that asking rents, particularly for warehouse/distribution will continue to rise as well with fulfillment centers continuing to circle the newer available big blocks of space.
NEWS & NOTABLES
SEATTLE—Holliday Fenoglio Fowler LP recently revealed that Zack Goodwin joined the firm as a director focused on debt and equity placement transactions in its Seattle office. Goodwin has nearly 10 years of commercial real estate experience and joins HFF from Jones Lang LaSalle, where he was a senior associate on their production team. Prior thereto, he worked for Norris Beggs & Simpson Financial Services as a financial analyst and later was promoted to an associate finance officer. Goodwin is a graduate of Gonzaga University and is a licensed real estate broker in the state of Washington.
SEATTLE—Newmark Knight Frank continues to expand its Seattle office, bringing David Marks on board as director. Marks joins NKF from Broderick Group where he provided landlord and tenant advisory services. As a director with NKF, Marks will specialize in representing landlords in office leasing.
DEAL TRACKER
PORTLAND—San Diego-based Stratford Partners LLC has expanded their multifamily portfolio into Portland. They have acquired Yacht Harbor Club, a 173-unit class-A waterfront multifamily complex, from Vancouver developer Gateway National Corporation for $68 million. Cresa represented the Buyer, and CBRE's Pacific NW Institutional Multifamily Investment team represented the seller.
PORTLAND—Goldman Sachs Asset Management Private Real Estate recently revealed that it has acquired, in a joint venture partnership with HP Investors (together with GSAM PRE, the “Partnership”), Block 90 and 300 Building a two-building 85,753-square-foot historic office portfolio located in Portland, OR.
HAYWARD, CA—Marcus & Millichap recently revealed the sale of 22242 Western Boulevard, a 8-unit apartment property located in Hayward, CA, according to Steven J. Seligman, regional manager of the firm's Palo Alto office. The asset sold for $1,390,000. Adam Levin, Robert Johnston and Chris Saiz, investment specialists in Marcus & Millichap's Palo Alto office, had the exclusive listing to market the property on behalf of the seller, a private investor.
SEATTLE—KeyBank Real Estate Capital has arranged a $49.1 million Fannie Mae, first mortgage loan for Regency Woods Apartment Homes, located in Renton, WA. The 359-unit multifamily property was built between 1967 and 1969 and renovated in 2010. Fred Dockweiler of Key's Commercial Mortgage Group arranged the financing with a seven-year term and 30-year amortization schedule. The loan was used to refinance existing debt.
BUILDING BLOCKS
PORTLAND, OR—Construction has recently been completed on Vista Logistics Park in Gresham, OR, which is poised to serve the needs of regional distribution and industrial businesses, enabling rapid deployment to the entire Pacific Northwest. Located at SE 223rd and Stark St., the property features 732,824 square feet of speculative industrial space in three buildings on a 37.42-acre site. New York Life Real Estate Investors LLC is the primary equity partner in the project. Developed by Portland-based Specht Development, Inc. (Specht), Vista Logistics Park is now available for occupancy.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
