Friday, March 18, 2011

Seattle Real Estate News- March 18th

Seattle Commercial Real Estate News:

Office space leasing is picking up in Seattle, from the Dendreon deal in the Russell Investment Center to’s transaction of 460,000 sf in the 1918 Eighth office tower. The space leased by big tech companies in downtown Seattle has made for some of the biggest commercial lease transactions of 2011.

Seattle Real Estate News:

The owners of a Leschi home that was injected with tear gas canisters, after police mistakenly thought it to be the location of police-shooter Maurice Clemmons, is getting or over $900,000 in damages from the city of Seattle. About $250,000 of will be attributed to home repairs.

Rent demands are on the rise and the people of Seattle shall be heard. Some, like the Schuster Group hear loud and clear. The Schuster Group recently changed a condo building proposal to an apartment building proposal set for Belltown as a result.

Developer Avalon Bay Communities has proposed a new apartment complex to be in the U District near University Way N.E. The two buildins will have a combined 385 units and 12,000 sf of retail.