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Sustainability isn't just about doing the right thing anymore. (Even supervillains are building energy-efficient secret lairs.) It's about getting a competitive edge, and we're excited to discuss the latest strategies and technology at our Sustainability: The Green Building Revolution event at the Four Seasons next Wednesday.  Retail is one beneficiary. Sustainable design can drive higher sales per SF, according to DLR Group principal Jason Dardis, who'll be speaking at the event. “We're seeing increased use of LED lighting resulting in brighter space, with custom color temperatures, all while using less energy,” he says. Natural daylight also helps buyers pull out their wallets, and Jason says he's seeing malls piping daylight into spaces using products like Parans, which uses solar collector lenses on the roof and fiber optics to bring daylight deep within a building.  LED's also good for highlighting sales displays, like here at Knacka, a shop in Portland. Another technology gaining ground in retail: virtual storefronts to extend sales hours and help provide a higher revenue per SF for tenant spaces, Jason says. Simply combine a holographic clear film projection on storefronts with touch capability paired with a computer, and retailers would have a web portal on a brick-and-mortar store, increasing sales without a major renovation, he notes.  Green design also benefits the hospitality industry, Jason says. “In the near future, your phone will be your be your key card,” he says. Once checked in online, a guest will receive a code similar to boarding pass barcode technology. Rooms will respond to the guest automatically, allowing custom settings and will shut down all power, lights, and air conditioning when guests leave the room. Our event also features DLR Group's Amarpreet Sethi, Google's Mike Nolan, the GSA's Don Horn, Paladino & Co's Tom Paladino, the City of Seattle's Sandra Mallory, Unico's Brett Phillips, and Vulcan's Brandon Morgan, with the National Trust for Historic Preservation's Mark Huppert and Daniels Real Estate's Kevin Daniels keynoting. Sign up here. |
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Multifamily Supply Still Anemic |
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AlbertGross(R)-medium.jpg) With its recent buy of the 35-unit 415 6th Ave in Downtown Tacoma, California-based Pathfinder Properties has now made six acquisitions in Washington, including multifamily properties in Capitol Hill, Federal Way, and Kirkland. Pathfinder senior managing director Lorne Polger tells us the current construction boom isn't dissuading the company from looking for more. "If you look at historic building trends, the boom still doesn't backfill the almost complete lack of construction in the years from 2008 to 2011,” Lorne says. Lorne, an avid biker, is snapped with his friend Albert Gross on the first morning of Al's bike ride across America. |
 Supply isn't the only encouraging factor, Lorne adds. Millennials are going to continue to come out of the woodwork—that is, move out of their parent's homes—making Seattle and Tacoma well positioned for higher multifamily occupancy, he says. Built in 2007, 415 6th Ave—which is 100% leased—was going to be condos, but the recession crushed those plans. Pathfinder acquired the property through a court-appointed receivership sale from a regional bank, and Lorne says it will continue to operate it as rental apartments while making upgrades to drive rents. |
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Spaceworks Fills Vacant Retail Vacant storefronts don't promote development and growth, Spaceworks manager Heather Joy tells us, so one way to fill them is to target small, creative tenants with rental incentives. Recently, four businesses, all local, opened at Spaceworks' latest redevelopment, a 5,000 SF property on MLK Way in Tacoma's Hilltop neighborhood (above): a t-shirt shop, two art galleries, and an entertainment production company. A trial period allows the businesses six months' free rent through the Spaceworks program; afterwards, they usually become rent-paying tenants. Launched in 2010 as partnership between City of Tacoma and Tacoma-Pierce County Chamber, Spaceworks has worked with more than 150 entrepreneurs and artists to create 31 new sites for business and art in Tacoma. |
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Don't Miss REEL Tonight! |
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 Picture yourself here: the rooftop deck of Sellen Construction Co's 227 Westlake Ave N, where REEL (Real Estate Emerging Leaders) is being held this evening. It's the must-attend summer event for professionals under 35, which NAIOP, ULI, CREW, and CoreNet Global's young committee leaders have come together to plan. The goal is to engage young, developing leaders in the industry, connect them with new contacts for business and professional development, and to build a stronger young professional network across all organizations. |
 Angela L. The event will support Urban Artworks, a local nonprofit that empowers young people to restore communities through public art, and of course, be a great place to network. Snapped: Urban ArtWorks youth paint a stain glassed window-inspired cityscape near the stadiums in a project supported by EMC Isilon. Bisnow is a media sponsor. More about REEL here. |
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Don't Miss Sustainability:
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Purchase all five Bisnow Education videos for only $199. (Summer Sale Ends Labor Day.)Peter Linneman, Wharton's real estate program founder and chairman, shares his extensive industry knowledge in these five bestselling instructional videos, covering everything from asset classes to valuation. Now you can buy the entire series at a great discount for yourself or incorporate them into your real estate training program (email will@bisnow.com for more information on group licenses). Individual investors can also benefit from fresh insights and new approaches. The lessons cover a lot of ground, but are easy to digest and can be watched anytime and anywhere. Video titles include:
Order the entire series here, and for training program group licenses, email Will Friend at will@bisnow.com. |
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