This week in the North West region, there was lots of news in the Seattle area. Check out all the news you might have missed below.—Natalie Dolce

BY THE NUMBERS

SEATTLE—According to a recent industrial report from Kidder Mathews, the Puget Sound region's industrial market delivered nearly 1.3 million square feet in the 4th quarter. Several large tenants that had pre-leased space earlier in the year finally occupied these spaces this quarter, boosting the net absorption up to nearly 2.3 million square feet this quarter. The end result saw the vacancy rate drop from 3.3% to 3.0%. For the year, nearly 6 million square feet was absorbed, keeping pace with deliveries of nearly 6.2 million square feet in 2017.

NEWS & NOTABLES

STOCKTON, CA—JLL recently added industry veteran John Fondale to the Central Valley team. Fondale joins as SVP and will be based in the Stockton office. He brings 30 years of experience as an industrial broker in the Sacramento and San Joaquin Valley markets where he has completed almost 900 sales and leasing assignments during his career.

DEAL TRACKER

WOODINBILLE, WA—KBS Realty Advisors of Newport Beach, CA, recently revealed that it has signed 84,547 square feet in leases at The Park at Woodinville. STS Operating Inc., a leading fluid power distribution company signed a new, 11,295-square-foot lease while, SkoFlo Industries, a leading provider of pressure valves to the oil industry, renewed their 37,451-square-foot lease. Additionally, Strasser Woodenworks Inc., a bathroom vanities, furniture and accessories store, renewed their 30,093-square-foot lease and expanded their 5,708-square-foot lease at the property.

SEATTLE—Holliday Fenoglio Fowler LP recently revealed the $43.3-million sale of and the $35.5-million financing for The Vance and Sterling Buildings, totaling 130,786 square feet in downtown Seattle. The HFF team represented the seller, Jonathan Rose Cos., and procured the buyer, a joint venture with Brickman Fund VII LP and GreenOak. Additionally, working on behalf of Brickman, the HFF team secured acquisition financing for the property.

BUILDING BLOCKS

KIRKLAND, WA—MainStreet Property Group LLC, a full-service Kirkland-based real estate developer, recently revealed the groundbreaking of The Landing, its first developed 'for sale' townhome project. The Landing is located in the heart of the emerging downtown Bothell. The Landing features 58 for sale units and is located at 18406 96^th Avenue NE within blocks of the high-quality commercial offerings featured in MainStreet's popular new mixed-use development, 'The Junction.' The Landing will bring sought-after housing product to downtown Bothell, furthering its residential offerings as part of the city's vision for its downtown core.

Instant Insights /

Middle Market Digest: This Week in the North West

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