This week in the North West region, the focus is again, about Seattle. The industrial market is showing strong performance numbers, a local tech firm signs on with a NYC firm to up its technology, and a 58-unit community centrally located in the sought-after Seattle neighborhood of Capitol Hill has changed hands. Check out all the news you might have missed below.—Natalie Dolce

BY THE NUMBERS

SEATTLE—The Seattle industrial market continued its strong performance starting 2017 with another robust quarter of leasing activity according to a recent report from Kidder Mathews. Approximately 2 million square feet was absorbed in the first quarter and with deliveries of nearly 974,000 square feet brought the vacancy rate down to its lowest point ever in the region at 3.02%. Construction activity remains very active with 3.35 million square feet underway. Absorption should continue to do well as 46% of these projects are pre-leased.

NEWS & NOTABLES

SACRAMENTO—Donna Whitaker has joined Sacramento's valuation and advisory team as managing director. In this new role, Whitaker is tasked with overseeing the Northern California region and a staff of approximately 20 employees. Whitaker and her valuation team's principal focus will be on Sacramento, the Central Valley, the Bay Area and the Silicon Valley.

Whitaker has over 20 years of real estate appraisal and consulting experience. Most recently, she worked as a director of CBRE's valuation and advisory services and oversaw the group's Sacramento office. At CBRE her group routinely generated appraisal services with a volume of work ranging from $1.5 million to $2 million annually.

SEATTLE—Better Homes and Gardens Real Estate Rand Realty has launched a powerful combination of the latest in agent productivity technology. Agents now have access to the Moxi Engage™ CRM from Seattle-based Moxi Works, which is fully integrated into an advanced automated marketing platform from Imprev, Inc. “There's a great technology race in real estate that has brokerages scrambling to add the latest innovations to gain a competitive edge and attract new agents,” says Matthew Rand, managing partner of Better Homes and Gardens Real Estate Rand Realty, which operates 26 offices with 1000 agents. “But agents are suffering from tool fatigue: There are too many disconnected apps and tools offered to agents without a focused plan from the broker to tie them all together,” he continues.

DEALTRACKER

SACRAMENTO—Lee & Associates, one of the largest national commercial real estate firms, has completed the lease of a freestanding restaurant building formerly occupied by Hooters. The 6,216 square-foot building is located at 1785 Challenge Way, across from the Arden Fair Mall and within the city of Sacramento's restaurant, retail, and entertainment corridor. The value of the lease is approximately $3,209,290. Bo Havlik and Victor Aquilina of Lee & Associates – North San Diego County represented the tenant, Best Salad Bar, LLC dba Sizzler and the landlord, E&E Caplow Living Trust and Praver Bros Investments, in the transaction.

SEATTLE—ARA Newmark and NGKF Capital Markets have sold the Carroll and Kensington Apartments, a 58-unit community centrally located in the sought-after Seattle neighborhood of Capitol Hill. NGKF Capital Markets arranged the financing for the property. The asset was 93% occupied at the time of sale, and was considered a value-add opportunity.

BY THE NUMBERS

NEWS & NOTABLES

DEALTRACKER

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Middle Market Digest: This Week in the North West

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