Posted by Jordan Crouch on November 16, 2007
Imagine being able to shape a city. Form a downtown. Create a vision for a neighborhood. Someone will have this opportunity soon.
The Denny Triangle neighborhood is located directly north of Seattle’s CBD; adjacent to another growing neighborhood, South Lake Union. This past June, thirteen acres in this neighborhood was placed on the market. That is potentially 12 million square feet of new development. Last week I had the opportunity to visit the presentation center for this historic sale. And I can say, it was awesome. A model of what could be built on the property makes you realize what a once-in-a-lifetime opportunity it really is. (I haven’t been able to find a picture of this model on the web.)
The Clise family has been acquiring property in the area for over 100 years. And now they have decided to sell the undeveloped portions. Al Clise, the head of the family company, spoke briefly to a group of young professionals last week. He described the family’s vision for the portfolio and that they are working with several interested buyers. Of course he wouldn’t say who the buyers were, but there has been international interest. He also pointed out that there is not a similar project in any CBD in the country.
The two pictures below give you some idea of the size of the portfolio.
Posted in Seattle Real Estate | Tagged: Clise, Commercial Real Estate, Development, Seattle | 2 Comments »
Posted by Jordan Crouch on November 14, 2007
I was inspired by Andy Sernovitz who is is presenting at a national conference using PowerPoint slides containing only 35 words. Without using words, here is my take on the current commercial real estate market.
For those not in the mood for a guessing game here was what I was trying to say.
Commercial Real Rstate’s easy money is done.
and
Today’s market is a roller coaster.
Posted in Capital Markets, Finance 101 | 3 Comments »
Posted by Jordan Crouch on November 8, 2007
I’m taking an extended weekend vacation to visit family in another part of the country. Therefore don’t expect another post until Tuesday.
Have a great weekend!
Posted in Random | Leave a Comment »
Posted by Jordan Crouch on November 8, 2007
Imagine 650 real estate ‘big wigs’, a downtown hotel’s grand ballroom, singing waiters, and lots of awards. This was what last Friday night was like at the NAIOP’s Night of the Stars, the annual awards banquet for commercial real estate in the Puget Sound. (NAIOP stands for National Association of Industrial and Office Properties). Among all of the hoopla, it was nice to see a diversity of winners. The complete list is below.
Deal of the Year – Children’s Hospital Land & Building Assemblage Sale – Touchstone Corporation
Industrial Development of the Year – Michael’s Northwest Distribution Center – Tarragon LLC
Industrial Developer of the Year – Panattoni Development Company
Mixed Use Development of the Year – 2200 Westlake – Vulcan, Inc.
Office Development of the Year Less than 250K SF – Kitsap Credit Union – Opus Northwest LLC
Office Development of the Year Greater than 250K SF – Lincoln Square Office Tower – Kemper Development Company
Office Developer of the Year – Kemper Development Company
Redevelopment/Renovation of the Year – Willow Creek Building G – CarrAmerica Realty Corporation
Sustainable Development of the Year – Westlake Terry – Vulcan, Inc.
Urban Highrise Residential – M Street – Opus Northwest LLC
Public Project of the Year – Tacoma Narrows Bridge
Public Project of the Year – City of Seattle & Seattle Aquarium
Hall of Fame Award was given to Kemper Freeman Jr.
Congrats to all the winners!
Posted in Green, Seattle Real Estate | Tagged: Awards, Commercial Real Estate, NAIOP | 1 Comment »
