BXP Extends $250MM MetLife Loan on Safeco Plaza to 2028 as Seattle Tower’s Value Sinks Below Debt
Boston-based BXP and lender MetLife pushed out the maturity on Safeco Plaza's mortgage by more than two years and locked in a fixed...
PSE Must Build New Vernell Substation, Upgrade Bellevue Grid by 2030 to Keep Pace With Growth, Joint Study Finds
A Bellevue-Redmond grid capacity study conducted with Puget Sound Energy concludes the utility must construct a new Central Bellevue substation called Vernell and...
Portland Posts Nation’s Second-Largest Job Loss as Seattle Stalls and Pacific Northwest Unemployment Climbs
Portland shed 25,700 jobs over the year ending June 2026 — the second-steepest decline of any U.S. metropolitan area — while Seattle managed...
Miami-Based Buyer Pays $17MM for Cedar Crest Academy’s 23,000 SQFT Bellevue Campus Building
The trade of a fully occupied, single-tenant elementary school building for nearly $1,000 per square foot of net space underscores investors' continued willingness...
Costco Files Plans for 166,000 SQFT Warehouse and 20-Pump Gas Station in Tumwater
Costco Wholesale has filed a formal application with the city of Tumwater to build a 166,157-square-foot membership warehouse alongside a 20-dispenser fuel station...
Strathcona Capital, Belay Investment Group Close $32.7MM Construction Loan for 105-Unit Seattle Multifamily Project
Strathcona Capital and Belay Investment Group closed a $32.7 million construction loan for a 105-unit Seattle multifamily project.
24-Building Old Rainier Brewery Creative Campus Hits Market in Seattle’s Georgetown for $29MM, 91% Leased
The 181,453-square-foot Old Rainier Brewery creative campus in Seattle's Georgetown is now on the market, 91 percent leased.
Larson Automotive Affiliates Sell Puyallup Property Portfolio for $11.4MM
Entities affiliated with Larson Automotive Group sold a 10-parcel Puyallup property portfolio for $11.4 million.
Graham Baba & First United Methodist Church Complete Purpose-Built Vashon Food Bank in Downtown Vashon
The Vashon Maury Community Food Bank has opened a new, purpose-built home in downtown Vashon, designed by Graham Baba Architects to combine grocery-style...
Washington State Lists Two Downtown Olympia Buildings, 28,000 SQFT, for Sale Near Capitol Campus
The Washington State Department of Enterprise Services has opened public bidding on two adjacent state-owned buildings occupying half a block near the Capitol...
Seattle Just Misses Top 20 for U.S. Apartment Absorption as Puget Sound Demand Holds
Seattle fell just short of the top 20 U.S. apartment markets for first-half 2026 net absorption, posting solid demand that nonetheless reflects a...
Bellevue Anchors Puget Sound Office Rebound as Regional Vacancy Climbs to 23.4% in Q2 2026
A widening split defined the Puget Sound office market in the second quarter of 2026, with Bellevue’s AI-fueled leasing surge and a thinning...
Portland Posts Nation’s Second-Largest Job Loss as Seattle Stalls and Pacific Northwest Unemployment Climbs
Portland shed 25,700 jobs over the year ending June 2026 — the second-steepest decline of any U.S. metropolitan area — while Seattle managed...
291,600 SQFT Bridgestone-Leased Cross-Dock Facility Hits Market Near PDX Airport
A 291,600-square-foot cross-dock facility fully leased to Bridgestone has hit the market near Portland International Airport.
TMT Development to Wind Down as Moyer Trust Shifts Portland Towers to Meritus
The trustee overseeing Tom Moyer's real estate empire is stripping property management of Fox Tower, Park Avenue West and other downtown Portland landmarks...
Urban Development Partners’ Mixed-Use ‘The George’ Lists for $14.5MM on Portland’s NW 23rd Avenue
The George, a mixed-use property anchored by Snow Peak's flagship store, has hit the market for $14.5 million on Portland's NW 23rd Avenue.
Macerich Readies $372MM for Mall Acquisitions as Oregon Anchors Its Pacific Northwest Position
Macerich has $372 million in unsettled forward equity earmarked for enclosed mall acquisitions at stabilized yields of 9 to 11 percent, a war...
Oregon Importers Paid $2.89B in Tariffs as Exports Fell 17%, State Report Finds
A new analysis commissioned by Gov. Tina Kotek found that Oregon absorbed $2.89 billion in tariff costs over 10 months of 2025 and...
Pacific Northwest Commercial Real Estate News
2026 Pacific Northwest CRE Rising Stars
Celebrating the Next Generation of Commercial Real Estate Excellence From the tech epicenters of Seattle and Portland to the industrial ports of...
Continue ReadingPSE Must Build New Vernell Substation, Upgrade Bellevue Grid by 2030 to Keep Pace With Growth, Joint Study Finds
A Bellevue-Redmond grid capacity study conducted with Puget Sound Energy concludes the utility must construct a new Central Bellevue substation called Vernell and...
Barry Gosin to Step Down as Newmark CEO After Nearly Five Decades; Board Targets Successor by Year End
Barry Gosin, who built Newmark from a regional brokerage into one of the fastest-growing publicly traded commercial real estate firms in the world,...
Microsoft Stretches Data Center, Office Building Depreciation to 25 Years, Reshaping $175B CapEx Plan
The software giant told analysts on its fiscal fourth-quarter earnings call that lengthening the accounting life of its global data centers and offices...
McNellis: In Denial Over the New Normal
By John McNellis Developers always crash and burn in the movies. The eternal bad guy, the developers’ heinous plans to pave a beach,...
Seattle v. Bellevue: The Tortoise Wears a Patagonia Vest
Bellevue is trouncing Seattle on occupancy, but occupancy is the lagging indicator—and the talent that fills tomorrow’s offices still wants the messy city...
The Art of the Quiet Exit, A Hudson Pacific Story
Hudson Pacific’s COO resigned with the usual boilerplate denial attached—but after a $572 million annual loss, a scrapped dividend and a stock down...
A Shot in the (Life Science) Arm for Puget Sound
Eli Lilly’s $1.5 billion cash deal for Bothell-based Curevo Vaccine is the kind of validating, capital-attracting exit Puget Sound’s life sciences cluster has...
The Data Center Bargain: What Every Town Should Demand
Free power. Free heat. Clean water. The bargain every town should be demanding. By Billy the Broker (I just want to stay anonymous)...
The Geography of Want: Why Starbucks Can’t Drag Its People to Nashville
By Billy the Broker (I just want to stay anonymous) There’s an old joke about the Boston banker who, told he must relocate...
Meta Reverses Course Again, Puts 212,000 SQFT Block 13 Tower up for Sublease in Bellevue
CBRE has hit the market with the full 212,128 square feet of Meta’s shell-condition Block 13 tower in Bellevue’s Spring District, a sublease...
291,600 SQFT Bridgestone-Leased Cross-Dock Facility Hits Market Near PDX Airport
A 291,600-square-foot cross-dock facility fully leased to Bridgestone has hit the market near Portland International Airport.
Thurston County Opens 56,000 SQFT Sheriff’s Headquarters in Former State Parks Building After $14.25MM Tumwater Buy
A former state agency headquarters near Interstate 5 has become the long-sought single home for Thurston County's law enforcement operations, financed entirely outside...
TMT Development to Wind Down as Moyer Trust Shifts Portland Towers to Meritus
The trustee overseeing Tom Moyer's real estate empire is stripping property management of Fox Tower, Park Avenue West and other downtown Portland landmarks...
Port of Seattle Advances $131MM Terminal 91 Uplands Project, Adding 400,000 SQFT of Maritime Industrial Space in Seattle
The Port of Seattle is pushing its long-planned Terminal 91 Uplands redevelopment into design and demolition, wagering $131 million that new light-industrial space...
91-Unit Indigo Apartments Hits Market in Tacoma for $9.8MM
A fully renovated 91-unit apartment community in Tacoma has hit the market for $9.8 million, giving investors a below-replacement-cost entry point in a...
Trimark Property Group Sells 42,000 SQFT Eastside Office Center for $13.89MM in Bellevue
MJMS Bellevue pays $13.89 million for the fully leased Eastside Office Center as I-90 corridor vacancy holds above 40 percent.
Larson Automotive Affiliate Pays $11.3MM for Infiniti of Tacoma at Fife Dealership Property
A Larson Automotive Group affiliate paid $11.3 million for the Infiniti of Tacoma at Fife dealership property, records show.
