Dec 19, 2024

Realogics making headway with Alki condos

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There's a bit of holiday cheer over on the West Seattle waterfront. Realogics Sotheby's International Realty says that it's now sold over half the 37 units at the boutique condominium project known as Infinity Shore Club. Developer Vibrant Cities completed the six-story building last year, with Tiscareno Associates as the architect and Walsh Group the builder. At Realogics, Dehlan Gwo said in a statement, “Infinity Shore Club is incomparable to any other single-level residential offering available on the market, and buyers are realizing that this is their final opportunity to purchase a new forever home in a community of this caliber, quality and location.” The building faces north to Elliott Bay, with dramatic views. James Wong of Vibrant Cities added, “We brought in the best of the best to make this dream a reality, from the top architects to the top interior designers, on the best stretch of beachfront in Seattle.” Prices were originally announced to range from just over $1 million to more than $5 million. Discounts then followed. Two new buyer incentives came this month: a $10,000 gift certificate with each purchase; and three hours of complimentary design services with Urban Interiors.

Kidder Mathews adds to management duties

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Based in Boston, Cabot Properties has in recent decades been a steady buyer and sometime developer of industrial properties in our market. The private company, with international reach, now has an eight-building portfolio here, from Tacoma north to Kent, which totals some 984,218 square feet. Kidder Mathews has been selected to manage the portfolio, that firm announced this week. CEO Bill Frame said in a statement, “Kidder Mathews has built a strong relationship with Cabot Properties through our brokerage division. Expanding our collaboration to include property management highlights the synergy between our divisions, and underscores the seamless integration that sets us apart in the market.” Cabot's Elizabeth Young added, “Seattle is a critical domestic market for Cabot, and we're pleased to expand upon our strong partnerships in the region.” Managing the portfolio will be Shelley Ryan and Lorna Faxon.

Avatar provides $14M in holiday swag

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Based here in Seattle, Avatar Financial Group makes loans all around the region, and all around the county as well. The firm recently announced $14 million in bridge funding to the unnamed owner of a small retail portfolio. Those properties include a Dollar Tree in Milwaukee; a CVS in Montevallo, Alabama; and three Rite Aid stores in Hellertown, Lebanon, and Punxsutawney Pennsylvania. The two-year loan, with a nearly 11% rate, is a preparatory step toward selling after old debt is retired and upgrades are made, says Avatar. The company said in a press release, “Despite the challenges facing some retailers in today's market, this portfolio demonstrates the enduring value of well-located properties with strong tenant demand.”

Lee & Associates

Bago

Sara Enslow Bago has joined the multifamily sales team at Lee & Associates, that firm recently announced. She makes the move from CBRE, and will be based in Lee's Bellevue office. Its Jim Bowles said in a statement, “Sara's expertise strengthens our team and enhances our commitment to empowering entrepreneurs in the commercial real estate sector.” Candice Chevaillier added, “Sara's impressive background in multifamily transactions and commercial real estate lending will be invaluable, as we expand our practice and deliver exceptional service to clients.”

Lucky number Eight

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Feb. 4 may seem like a long way off, but save the date if you'd like to visit The Eight office tower, which was recently completed in downtown Bellevue. NAIOPWA is hosting the tour through the 25-story tower built and developed by Skanska USA. (Pickard Chilton was the architect.) Pokemon is the major tenant in the 47,000-square-foot project, which may be a draw for Pikachu enthusiasts. Details and registration: naiopwa.org.

Kidder Mathews

Barker

Kidder Mathews has added investment sales broker Bruce Barker to its ranks. He makes the move from Lee & Associates' Tacoma office. He'll remain in that city for his new post. Barker said in a statement, “As a former special operator, I long for the level of professionalism and team mentality that creates extreme success. That exists at Kidder Mathews, and I'm proud to be a part of this firm.”

City of Redmond

Redmond City Council President Vanessa Kritzer was elected to serve as chair of the Lake Washington/Cedar/Sammamish Watershed Salmon Recovery Council, a partnership working to protect and restore salmon habitat in the region. The watershed is also referred to as Water Resource Inventory Area (WRIA) 8 and covers an area of Puget Sound near the shore and inland from the north end of Elliott Bay to South Everett and east to the Bear Creek basin, the Issaquah Creek basin, and the upper Cedar River basin. The WRIA 8 Salmon Recovery Council is composed of elected representatives from 29 local governments in the WRIA 8 watershed, plus partners and representatives from community organizations, business, environmental interests, and state and federal agencies. The council oversees the implementation of the science-based Chinook Salmon Conservation Plan, a response to the listing of Puget Sound Chinook as a threatened species under the Endangered Species Act. The watershed is home to multiple species of salmon, including Chinook, coho, and sockeye, as well as kokanee, a small red landlocked species native to Lake Sammamish. Recovery efforts seek to restore salmon runs to levels that would consistently support sustainable runs for tribal and recreational fishing year-to-year. Kritzer has served on the WRIA 8 Salmon Recovery Council for the past four years. She also represents Redmond on the Management Committee governing work to support kokanee salmon in Lake Sammamish, and most recently served as chair of the King Conservation District Advisory Committee.

DAT Freight & Analytics

DAT Freight & Analytics has acquired the operations of Trucker Tools, a company specializing in load visibility, automated booking, digital freight matching, and carrier engagement for commercial trucking. The acquisition will expand DAT's ability to provide real-time GPS tracking and load optimization on the DAT One platform, an industry marketplace for spot truckload freight, with more than 668,000 loads posted daily. Trucker Tools provides real-time visibility for more than 750 freight brokers and accelerates load tendering, rate negotiation, load booking, and digital document management through its Smart Load Board. Its Trucker Tools app helps 350,000 owner-operators, carriers, and drivers find and book loads on the spot market and manage replies to their offers and bids. DAT acquired Trucker Tools from ASG, a portfolio company of Alpine Investors. Trucker Tools will operate under its current leadership, with Kary Jablonski, CEO of Trucker Tools, joining the DAT executive team. DAT Freight & Analytics operates a truckload freight marketplace and truckload freight data analytics service, serving shippers, transportation brokers, carriers, news organizations, and industry analysts. Founded in 1978, DAT is a business unit of Roper Technologies, and is headquartered in Beaverton, Oregon.