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Tech and co-working dominated the Puget Sound office market in the first and third demand positions, and a second source of demand driver is coming from finance, insurance and real estate companies.
President Trump may sign an executive order giving opportunity zone investments additional preferences in federal loan and grant funding, says Christopher Coes, vice president of land use and development, Smart Growth America.
A quality ownership structure led to a financing process that attracted a variety of domestic and foreign capital providers, including PGIM which ultimately won out with aggressive terms and rent control knowledge.
The training center has added approximately 42,000 square feet, more than double the size of the existing high bay facility, to include space for additional flight simulators, a demo room and classrooms.
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.