Chapter News

DONE DEALS! Matt McLennan, CCIM closes two deals: $41M in Bonney Lake & $5.225M in Auburn

Aug. 28, 2024

Matt McLennan, CCIM, Kidder Mathews, recently closed on two industrial deals.

Location: 9713 233rd Ave E, Bonney Lake, WA, 98391

  • Description: 10.33 acres of land and a substantial 184,000 square feet industrial building.
  • Sale Date: January 31, 2024

  • Sale Price: $41,000,000

Location: 214 21st St SE, Auburn, WA, 98002

  • Description: This recently sold property features 2.15 acres of land with 93,685 square feet, including 26,920 rentable square feet of industrial/office space and approximately 1 acre of yard space.
  • Seller: Private
  • Buyer: Dalfen
  • Sale Date: January 23, 2024

  • Sale Price: $5,225,000

Legislative Update

Aug. 28, 2024

Commercial RE Sales: Down 82% in 2 years due to the rise in interest rates. Investors very reluctant to buy/sell into a down and uncertain market.

Office Leasing: May be worst in history –Far worse than Great Recession –Tech Sector correction and Work From Home. Some Owners and Lenders will feel real painVery few buildings can be feasibly converted to residential.

Industrial Leasing: Softening and trending in the wrong direction, but nothing dire at this point. Population growth still means more distribution of goods.

Retail Leasing: Holding up well outside of downtown business district (SEA) cores due to strong demographics and population growth.

Apartment Leasing: Due to housing shortage, rents are rising as new construction and deliveries have dropped off and are not feasible due to higher interest rates/financing costs and costs of construction.

New Designees Pinned at the 2023 Governance Meetings in Seattle

Aug. 28, 2024

Congratulations to our new designees for earning the prestigious CCIM designation and receiving the coveted CCIM pin at the 2023 Annual Governance meetings in Seattle.

  • Jennifer Hudson
  • Jarrod Ball
  • Steve Clark
  • Brian Manaois
  • Army Olsen
  • Tyler Bretz
  • John Bauder
  • Bill Leland

  • Connor Powell

This achievement reflects dedication, hard work, and commitment to excellence in the field of commercial real estate. Our chapter is confident that these new designees will greatly contribute to our chapter's success in the future.