This week in the North West region, there was lots of news in the Seattle area. Check out all the news you might have missed below.Natalie Dolce

BY THE NUMBERS

SEATTLE—According to a recent industrial report from Kidder Mathews, the Puget Sound region's industrial market delivered nearly 1.3 million square feet in the 4th quarter. Several large tenants that had pre-leased space earlier in the year finally occupied these spaces this quarter, boosting the net absorption up to nearly 2.3 million square feet this quarter. The end result saw the vacancy rate drop from 3.3% to 3.0%. For the year, nearly 6 million square feet was absorbed, keeping pace with deliveries of nearly 6.2 million square feet in 2017.

NEWS & NOTABLES

STOCKTON, CA—JLL recently added industry veteran John Fondale to the Central Valley team. Fondale joins as SVP and will be based in the Stockton office. He brings 30 years of experience as an industrial broker in the Sacramento and San Joaquin Valley markets where he has completed almost 900 sales and leasing assignments during his career.

DEAL TRACKER

WOODINBILLE, WA—KBS Realty Advisors of Newport Beach, CA, recently revealed that it has signed 84,547 square feet in leases at The Park at Woodinville. STS Operating Inc., a leading fluid power distribution company signed a new, 11,295-square-foot lease while, SkoFlo Industries, a leading provider of pressure valves to the oil industry, renewed their 37,451-square-foot lease. Additionally, Strasser Woodenworks Inc., a bathroom vanities, furniture and accessories store, renewed their 30,093-square-foot lease and expanded their 5,708-square-foot lease at the property.

SEATTLE—Holliday Fenoglio Fowler LP recently revealed the $43.3-million sale of and the $35.5-million financing for The Vance and Sterling Buildings, totaling 130,786 square feet in downtown Seattle. The HFF team represented the seller, Jonathan Rose Cos., and procured the buyer, a joint venture with Brickman Fund VII LP and GreenOak. Additionally, working on behalf of Brickman, the HFF team secured acquisition financing for the property.

BUILDING BLOCKS

KIRKLAND, WA—MainStreet Property Group LLC, a full-service Kirkland-based real estate developer, recently revealed the groundbreaking of The Landing, its first developed 'for sale' townhome project. The Landing is located in the heart of the emerging downtown Bothell. The Landing features 58 for sale units and is located at 18406 96th Avenue NE within blocks of the high-quality commercial offerings featured in MainStreet's popular new mixed-use development, 'The Junction.' The Landing will bring sought-after housing product to downtown Bothell, furthering its residential offerings as part of the city's vision for its downtown core.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

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.