SEATTLE, WA-The 47-room Econo Lodge franchise was built by Wen-fan in 1985. The 38-room Ramada Limited opened in late 1998. The purchase price translates to $66,279/room, and the broker says the cap rate would be just over 8%.
SPOKANE, WA-The 36,000-sf building is being developed by locally based Garco Development Services on behalf of a California developer who acquired the land and an adjacent 55,000sf building last year from principals of Garco.
VANCOUVER, BC-The project, being built in two vertical phases, will be the fifth building in its Bentall Centre complex, which includes 1,451,000 sf of office and retail in four existing buildings.
KENT, WA-The eight-building campus, with 763,000 sf of Class A office space, has been named as the region's Suburban Office Park of the Year by the Seattle-King County Association of Building Owners and Managers.
SPOKANE, WA-The new 120,000-sf shipping facility would allow FedEx to consolidate existing operations and dovetail into Spokane International Airport's plans to spend $6 million for the construction of a new shipping apron and improved taxiway.
SPOKANE, WA-While vacancy rates had been hovering around 5% the past few years, according to a recent survey they have tightened up to 3.25% in class A buildings in the Downtown core.
SEATTLE, WA-Unico Properties Inc. has named Kathryn Colgan as director of leasing for its 1.7 million sf of offices in Puget Sound suburban markets. It also has relocated Dan Preisler to Boise, ID to manage its key downtown property there.
SPOKANE, WA-While vacancy rates had been hovering around 5% the past few years, according to a recent survey they have tightened up to 3.25% in class A buildings in the Downtown core.
EVERETT, WA-In late February, the REIT sold its 40,988-sf of the 88,884-sf Puget Park Shopping Center, packaged with another in Cameron Park, CA. The $19-million deal represents only a portion of scheduled sales to entities affiliated with Prudential Real Estate Investors.
OLYMPIA, WA-In a bipartisan effort, Washington legislators have introduced a Senate bill that creates an agency to oversee massive highway construction aimed at alleviating traffic congestion in 20 of the state's legislative districts.