Commercial Real Estate
Seattle a Leading City for Coliving
The sharing economy increasingly extends to housing developments
Last year, two coliving developments opened in Seattle. More are on the way. A new report by commercial real estate firm Cushman & Wakefield identifies Seattle as one of the top cities in the U.S. for its inventory of current and future coliving space. Coliving is a type of multi-family housing where multiple people share…
Hudson Pacific Plans Office Tower Near Convention Center Addition
The Los Angeles company paid $86M for development rights
A Los Angeles developer will build a 16-story office tower next to the new wing of the Washington State Convention Center in downtown Seattle. Hudson Pacific Properties plans a 568,000-square-foot building with ground-floor retail space. The company paid $86 million for the building rights and plans to spend up to $$350 million developing the building….
More Apartments Are Coming to Seattle and Bellevue
A Colliers report says rampant hiring is creating a need for new units
Seattle and Bellevue will need an estimated 40,000 new apartment units in the next several years as companies are projected to create up to 200,000 new jobs. A study by commercial real estate firm Colliers International notes that the region has experienced a staggering 30 percent increase in units since 2010, with 62 percent of…
Bellevue Rolls Out New Online Map to Track Downtown Projects
The Building Bellevue map shows designs, renderings, details and contact information
The city of Bellevue has unveiled a new online map to track downtown and Bel Red neighborhood projects. Called Building Bellevue, the map reveals proposed building designs, projects status and detains and contact information for project applicants and land-use planners. However, it doesnt display projects under construction. That information is contained on the citys Major…
Zillow Chalks Up Huge Revenue Gain Powered by Its Homebuying Platform
The Seattle company plans to bolster Zillow Offers revenue punch by expanding its reach
Zillow recorded a first-quarter loss of nearly $68 million, but its revenue was off the charts, at $454 million, up from $352 million a year earlier, with a good share of that growth driven by its homebuying platform. Zillow Offers, launched a bit more than a year ago, recorded revenue of nearly $129 million for…
Bellevue Area Dominates Downtown Seattle in Big Leasing Deals
The submarket accounted for 74 percent of the space leased in large deals in first-quarter 2019
Overall office leasing activity in the region is dominated by downtown Seattle, as might be expected, with the citys central business district accounting for nearly 54 percent of total leased square footage in the first quarter of the year. But, in a sign of shifting real estate trends, nearly three-quarters of the square footage involved…
Seattle Communities of Color Were Hit Hard by Home-Foreclosure Surge
Predominately black and Hispanic neighborhoods were disproportionately affected by the crisis, study shows
African-American and Hispanic homeowners paid a steep price during the foreclosure onslaught that lasted for years after the housing markets collapse slightly more than a decade ago, and Seattle was no exception to the rule, a study released by Zillow shows. This reality has an impact not only on homeowners in communities of color, but…
Seattle’s Condo Market Is Showing Signs of a Resurgence
Thousands of condo units are now in the pipeline after several years of no inventory.
RESURGENCE. The 440-foot-high Nexus complex will feature retail on the first floor and copious amenities for condo residents throughout the high-rise. It is slated to open in downtown Seattle later this year
Office Development in Seattle Kicks Into High Gear in 2019
More than two dozen building projects are slated to be completed this year
Seattles office market is primed for a major growth spurt, with 26 projects encompassing some 6.4 million square feet of space slated to come online in 2019, according to a study by commercial real estate blog Commercial Cafe. By comparison, in 2018, Seattles office inventory expanded by 1.7 million square feet via six new projects,…
NEXUS Is Downtown Seattle’s New In-demand High-rise Development
Already 93-Percent Presold, 28 Remaining Homes in High-Tech, High-Rise Introduced to Market, Occupancy by Late 2019
Sponsored by Realogics NEXUS is downtown Seattles most successful high-rise presale development having already sold 361 of the 389 homes with first occupancy scheduled for late 2019the soonest amongst all the citys new construction condominiums. Robust presales prompted the retirement of the NEXUS Sales Center in June 2018 as the developer, Burrard Group, focused their…
Amazon, Facebook Expansion Plans in Bellevue Could Spur a Homebuying Frenzy
City's home prices slipped in the past year, but the online giants' plans could reignite the market
This story originally ran on Redfin. Theres a spotlight on Bellevues real estate market after Amazon gave up plans to occupy a skyscraper with the capacity for up to 5,000 employees in downtown Seattle. The move is intensifying speculation that Amazon will focus its hometown growth on the Eastside suburbs over the next few years….