Lease: Measurement Systems International Renews Tukwila Lease

Image courtesy of CoStar.com

"Measurement Systems International renewed its 28,375-square-foot lease at 14240 Interurban Ave. South in Tukwila, WA. 

The manufacturing company occupies the entire first floor of the 56,750-square-foot office building. The property was constructed in 1989 and is in the Fairway Center Complex. 

Michael George and Nick Fletcher of Colliers International handled the transaction for the landlord, O'Keefe Development."

You can find the article HERE.

Sale: AMB Collects $27.3M in Puyallup Industrial Sale

Image Courtesy of CoStar.com

"Ozark Automotive Distributors acquired the industrial building at 1602 Industrial Park Way in Puyallup, WA, from AMB Property Corp. for $27.3 million, or about $71 per square foot.  

Completed in 2008, the 388,000-square-foot building is on 23.7 acres in the AMB River Front Industrial Park. Ozark Automotive Distributors intends to occupy the building, which delivered last year and is currently vacant.  

Tony Kusak of Cushman & Wakefield represented the buyer. Mike Roy and Bruce Valentine of Neil Walter Co. represented the seller. "

You can find the article HERE.

Sale: IKEA Purchases its Building in Renton

Image courtesy of CoStar.com

"Furniture retailer IKEA acquired two building in the Northwest Corporate Park in Renton, WA, from AMB Property Corp. for $32.8 million, or about $43 per square foot. 

The two buildings are at 600-630 and 800-850 SW 43rd St. They were constructed in the 1970s and collectively total almost 800,000 square feet. 

IKEA occupies both buildings and recently signed a 10-year renewal. The properties were on the open market for about a month prior to the sale. IKEA will continue to occupy the facilities. 

Brett Harzell, Dara Longo and Barbara Emmons of CB Richard Ellis represented AMB Property Corp. Les Boudwin of Pacific Real Estate Partners and Tony Beatty of NAI BT Commercial represented IKEA."

You can find the full article HERE.

Article: Survey: Recession clips angel investments

In the PSBJ last week, an article focused on the lack of Angel Investing due to the economic woes. Click HERE to read.

"Angel investments decreased in 2008 from 2007 because of the recession, according to the Angel Capital Association.

Angel investment groups surveyed by the Lenexa, Kan.-based association in March and April reported that average investment activity per group decreased by 9 percent in 2008 from 2007, though several angel groups increased investments because they saw new opportunities during the recession, the association said in a Monday release..."

Article: Online Spending for Commercial RE up!

Interesting article on the spending habits of CRE companies. Click here to read the full article.

 "Spending for online commercial real estate marketing is projected to reach a record $2.9 billion in 2009, according to Williamsburg, Va.-based media research firm Borrell Associates Inc. That represents a substantial increase from the previous record of $2.5 billion in 2008, according to Borrell. 

The figures document the trend toward increased use of the Web as a marketing tool. Nearly half of all spending for commercial property marketing last year, 48%, was allocated online, Borrell reports. That includes e-mail marketing and spending for property-related Web sites.... "

Article: Level Unemployment Rate

The following from PSBJ gives an update on the monthly unemployment rate and it's current trends.

Washington April unemployment rate stays the same

Puget Sound Business Journal (Seattle)

“The unemployment rate in Washington State stayed the same at 9.1 percent last month compared with March.

It’s the first time the rate didn’t rise in more than a year, state officials said.

 In Seattle, the unemployment rate actually decreased in April to 7.9 percent from 8 percent a month earlier. In April 2008, the unemployment rate in Seattle was 4.3 percent.

According to the Washington Employment Security Department, there were 200 fewer unemployed people in the state last month compared with March.”

Article: Update... Commercialization of Paine Field

In an article by John Wolcott of the SCBJ, an update on the commercialization of Paine Field is featured. Click the article title to read on...

Airline service getting closer, Horizon’s Russo tells Private Enterprise Council

Airline service at Paine Field continues to move closer, Horizon Air Marketing Vice President Dan Russo told the Snohomish County Private Enterprise Coalition (PEC) in March. 

“We are continuing to negotiate in good faith with Snohomish County Executive Aaron Reardon’s office, including planning for the terminal we’ll need, he said. “But we will not make our original Apr. 1 launch time. However, that was initially the date we used in our December 2008 letter to the county to get things going. Now, we’re just adjusting it.” 

Article: Survey finds long-term optimism among world's small businesses

"Small-business leaders worldwide remain optimistic about their long-term prospects despite the economic downturn, even though only 37 percent expect their companies to do better this year than last, according to a survey released Monday." Click the image to follow and read on!

Article: Financing IS out there!

In Monday's PSBJ, the article below update's the status of the SBA guaranteeing ARC loans. Read on!

Help is on the way for small-business owners struggling to made debt payments.

Starting June 15, the U.S. Small Business Administration will start guaranteeing America’s Recovery Capital (ARC) loans.

These are deferred-payment loans of up to $35,000 that will be made available to established, viable, for-profit small businesses in need of short-term help to make their principal and interest payments on existing debt. The loans are interest free and 100 percent backed by the SBA.

Article: Puget Sound Truckers Feeling the Pain

In an article from the Puget Sound Business Journal by Steve Wilhelm, the Puget Sound Trucking Industry is featured. Please click on the link to continue to read!

"Puget Sound region truckers are trying new survival tactics, including squeezing new revenue from the agriculture market, as they struggle to compensate for the precipitous drop in cargo this year.

Moving apples, potatoes and onions from Eastern Washington is part of the new diet for the Seattle operation of Mason-Dixon International, formerly Harbor Freight, said Operations Manager Julie Tallant.

“We’re having to branch out,” she said from her South Seattle office. “We’re starting to do some domestic things, to fill the gap.”

Trucking companies in Washington state and the rest of the nation are struggling because the recession has diminished the movement of domestic and international cargo. The downturn has reduced consumer spending as well as factory orders."...