LEASES
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| Good news for fledgling Smith Tower: Manager CBRE has found Seattle's most eligible office building a few new suitors. A handful of leases, most notably with internet marketing firm Portent— which has agreed to move into the building's 17th floor—are breathing new life into the building. All told, the new tenants (including Rialto Communications, Push Design and Aukema & Associates) will take up 25k SF of space.SALES First Hill's Aldercrest Apartments, for just under $9M, to Couch Investments III. The deal was brokered by Westlake Associates's Steve Fischer and Tyler Smith, who repped both buyer and seller. *** The City of Seattle sold Ravenna's historic Fire Station 38 for $712,000 to Thomas Kroon, CEO of Monroe manufacturing company Thomas James International. Colliers International SVP Greg Inglin repped the seller. PROPOSED Like Leonardo DiCaprio at a Starbucks, everyone wants to crowd around Amazon. Vulcan Real Estate has proposed a 375k SF office building at Ninth and Republican, while Walsh Construction is moving forward on a 12-story building on the other side of Amazon at Fairview and Republican. IN THE WORKS San Francisco's MacFarlane Partners is planning a seven-story, 157-unit apartment complex at Eighth Avenue North and Thomas Street in South Lake Union. MacFarlane acquired the site late last year for $6.2M. *** Also capitalizing on Amazon's planned 3M SF in the Denny Triangle,Touchstone is planning a 13-story office/hotel building. The company has a half block site between Stewart and Howell Streets on Boren Avenue. |
| UNDER CONTRACT |
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| A downtown studio under $1,000 per month? It's the real deal at The Downtowner, which recently went under contract to Seattle's Goodman Real Estate. Goodman, which already owns a smattering of apartment complexes in the region, is planning a rehab of the International District apartment project. Goodman will be managing the site with CBRE will be handling the leasing. |
