The greater Redmond market has been driven by the explosive growth of Facebook's virtual reality division, Oculus, which now occupies more than 885,000 square feet, and investors are taking notice.
Real estate investors use 1031s or like-kind exchange strategies to maintain strong portfolios, apply more capital towards current real estate opportunities and maximize tax savings.
Toyota, Liberty Mutual and JP Morgan Chase have recently relocated major operations to the Legacy area and are expected to generate more than 20,000 jobs with a projected economic impact of $11 billion.
Sygnii is the newest multifamily asset in one of the tightest markets in the Pacific Northwest, reaching stabilized occupancy twice as quickly as the average new community so it attracted strong investor interest.
Currently, San Francisco tenant demand of 7.6 million square feet outpaces availability at 7.4 million square feet, mainly in the large user category, and absorption should remain strong for the remainder of the year.
The firm plans a series of diversified and specialty portfolio investment options to provide individual investors and registered advisors another way to diversify commercial real estate investments.
In an exclusive audio interview, Newark real estate attorney Ted Zangari says investors need to start identifying appreciated assets quickly so that they can engage in Opportunity Zone transactions before the end of 2019 to gain the maximum tax advantages.