Opening Bell
Statshot: Weapons of Mass Construction
Seattle boasts an impressive number of new office buildings
Downtown Seattle’s vacancy rate continues to rise, though new office buildings are going up at a rapid rate. A report from Kidder Mathews pegs the vacancy rate at 23.9%. For comparison purposes, it was about 10% at the end of 2019, just before the pandemic. Despite that, data firm Commercial Edge reports that Seattle has…
Healthy Food Drives Deal
Entrepreneurs Norman Wu and Lisa Nordstrom join forces over a shared passion
It began with the creation of a healthy snack. It morphed into a café. Now, a major investment will transform the very nature of Sano Café. Conscious Hospitality Group co-founder Norman Wu is making a major investment in Sano Café, a small establishment on Mercer Island that offers espresso, juices, smoothies, breakfast, and lunch. Lisa…
Internal Focus, External Results
Vern Olson works to create trusting relationships at Bob’s Heating & Air Conditioning
If it matters to Vern Olson, it matters to everyone else. That’s a guiding mantra at Bob’s Heating & Air Conditioning, a third-generation, family-owned business based in Woodinville. Olson is president of the 364-employee company, which was founded in 1957. “It starts at the top. If it’s important to you as the owner, it will…
On Reflection: Don’t Write Off Seattle’s Commercial Core Just Yet
The city makes big gains in real estate trends report
Thanks to Seattle’s battered but still significant tech sector, the region ranked an impressive No. 10 among metros in all states in the Emerging Trends in Real Estate 2024 report. “Ratings have been volatile in recent years, mostly due to the changing fortunes of the tech sector,” the annual report from the Urban Land Institute…
Washington State Statshot: Economic Snapshot 2024
Aerospace jobs are on the rise, but building permits are declining
Nobody has a crystal ball. Economists with the state of Washington, however (and everywhere else), are analyzing what they think the economy will soon look like. Here are projections for the statewide economy in 2024 based on sophisticated analytical models. They do not necessarily reflect current market conditions. 5.3%: State unemployment rate. 5.4%: U.S. unemployment…
Catching up with Michelle Li
Very Asian co-founder remains a fan of Seattle
Michelle Li lives and works in St. Louis now, but the former KING-5 broadcaster will always consider Seattle a second home. Li famously created the Very Asian Foundation after a viewer in St. Louis left a racist voicemail telling her to “keep her Korean to herself” and accusing her of being “very Asian” after she…
Statshot: Talking Tech
High salaries, remote workers make Washington state the nation’s top tech employer
Watch out, Silicon Valley. Yet another study pegs Washington as the top state for tech. Business consulting firm Venture Smarter analyzed median hourly wages, the number of people employed in tech roles per 1,000 jobs, and also added the percentage of remote workers to devise a “Tech-Friendly Index.” Washington has the highest number of remote…
On Reflection: Tutta Bella Brings the Heat
Popular chain makes a big investment in SODO
Tutta Bella has opened a state-of-the-art Culinary Innovation Hub in the SODO neighborhood. The popular restaurant chain’s 15,000-square-foot USDA-certified facility will create more than 100 jobs to support the Seattle company’s rapidly expanding grocery and retail business. It features a prep kitchen, production facility, and office space, and will also serve as the company’s new…
‘Found the Right Thing’
HKS finally lands an office in Seattle
There’s no typical day for Doug Demers. And that’s just the way he likes it. Demers leads global architecture and design firm HKS’ first Seattle office. The Dallas-based company, one of the nation’s largest architectural firms, has developed projects in the city since 1994, but until August never had a physical presence here. The Seattle…
Purpose Before Profit
Campbell & Co. thrives as an egalitarian workplace
Being employee owned, everyone at Campbell & Co. has a stake in the consulting firm’s financial performance. But copresidents Julia McGuire and Kate Roosevelt realize the company can’t function as a democracy. One of the first initiatives they launched after creating their unique organizational structure two years ago was a leadership council consisting of about…
Statshot: Cruise Control
Seattle is one of the nation's busiest hubs for cruises
Tourism season is in full swing in Seattle, and officials expect a record cruise season after several down years due to the pandemic. The season runs through Oct. 30. “The cruise season in Seattle makes a real difference for downtown businesses,” Mayor Bruce Harrell says, “allowing us to share what makes our city special with…
On Reflection: Life’s More Than a Beach at Bahama
The Seattle company offers a lot more than just island wear
If you’ve ever been to a concert at Chateau Ste. Michelle Winery, you’ve certainly noticed the colorful Hawaiian shirts and folding chairs emblazoned with the name “Tommy Bahama.” The Seattle-based company — it turns 30 this year — is about a lot more than that. Though primarily an apparel manufacturer (it operates 160 retail stores),…
Deep Knowledge
Expert warned of submersible risk years ago
Rob McCallum has been on seven expeditions to the Titanic. He’s dived 35,000-plus feet to Challenger Deep, the deepest known point of the seabed. He was test manager for Jim Cameron’s Deep Sea Challenge 3D documentary. McCallum is the founder of EYOS Expeditions, widely considered the world’s foremost provider of marine-based private expeditions. The company…