Dylan Simon -- Colliers International
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Seattle Capital Markets Remain Strong

Seattle Capital Markets Remain Strong | Dylan Simon -- Colliers International | Scoop.it
Capital markets remain strong in Seattle thanks to high levels of job growth in the city.
Dylan Simon's insight:

"The capital markets picture in Seattle is brighter than it is in the rest of the country, where the prospect of recession and the long real estate cycle is dogging the outlook."

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Dylan Simon -- Colliers International
I specialize in the sale of apartment buildings in Seattle and the greater Puget Sound region. I focus on the sale of both apartment buildings and developable land ranging from $3M to $100M. I am passionate about real estate investment and development, economics, technology and urbanism. Through brokerage I assist apartment investors and developers in achieving the highest possible levels of return and build an advisory relationship that lasts ownership life-cycles instead of just a transaction.
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Snohomish rolls out tax-break carpet for multifamily developers in Pilchuck District

Snohomish rolls out tax-break carpet for multifamily developers in Pilchuck District | Dylan Simon -- Colliers International | Scoop.it
The Snohomish City Council recently passed a resolution to temporarily defer property taxes on the value of certain multifamily construction in the city's Pilchuck District to spur mixed-use housing.
Dylan Simon's insight:

The Snohomish City Council recently passed a resolution to temporarily defer property taxes on the value of certain multifamily construction in the city's Pilchuck District to spur mixed-use housing.

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Cheaper Rents and Demand for More Space Push Major Companies to Bellevue

Cheaper Rents and Demand for More Space Push Major Companies to Bellevue | Dylan Simon -- Colliers International | Scoop.it
Record-low vacancy rates, more cost-effective rents, better commuter resources and access to top-tier talent are factors that influence companies such as Alibaba, Microsoft, REI and Facebook to expand their footprint in Bellevue and the up-and-coming Spring District.
Dylan Simon's insight:

Record-low vacancy rates, more cost-effective rents, better commuter resources and access to top-tier talent are factors that influence companies such as Alibaba, Microsoft, REI and Facebook to expand their footprint in Bellevue and the up-and-coming Spring District.

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Pierce County Leads Puget Sound Industrial Growth

Pierce County Leads Puget Sound Industrial Growth | Dylan Simon -- Colliers International | Scoop.it
The Pierce County market continues to generate high demand from tenants. In the fourth quarter, 94% of new supply was in the Pierce County market.
Dylan Simon's insight:

The Pierce County market continues to generate high demand from tenants. In the fourth quarter, 94% of new supply was in the Pierce County market.

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In stunning reversal, Amazon drops plans for HQ2 in New York City

In stunning reversal, Amazon drops plans for HQ2 in New York City | Dylan Simon -- Colliers International | Scoop.it
Instead Amazon “will proceed as planned in Northern Virginia and Nashville, and we will continue to hire and grow across our 17 corporate offices and tech hubs in the U.S. and Canada,”
Dylan Simon's insight:

Instead Amazon “will proceed as planned in Northern Virginia and Nashville, and we will continue to hire and grow across our 17 corporate offices and tech hubs in the U.S. and Canada,”

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Laird Norton Properties Unveils Renderings of 176-Unit Workforce Development, Othello Square Building C

Laird Norton Properties Unveils Renderings of 176-Unit Workforce Development, Othello Square Building C | Dylan Simon -- Colliers International | Scoop.it
Located at 39th and Othello, the project will be seven-stories and approximately 230,000 sq. ft. with 176 workforce apartments for individuals and families earning 65% – 120% of AMI.
Dylan Simon's insight:

Located at 39th and Othello, the project will be seven-stories and approximately 230,000 sq. ft. with 176 workforce apartments for individuals and families earning 65% – 120% of AMI.

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T-Mobile Solidifies Commitment to the PNW Region as it Begins $160MM Renovation on Bellevue HQ

T-Mobile Solidifies Commitment to the PNW Region as it Begins $160MM Renovation on Bellevue HQ | Dylan Simon -- Colliers International | Scoop.it
T-Mobile has also expanded its headquarters, currently owned by Ivanhoe Cambridge, to around 1,000,000 square feet and extended its lease commitment to 2030, according to the company’s annual report
Dylan Simon's insight:

T-Mobile has also expanded its headquarters, currently owned by Ivanhoe Cambridge, to around 1,000,000 square feet and extended its lease commitment to 2030, according to the company’s annual report.

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Micro-Units Spread to Secondary Cities

Micro-Units Spread to Secondary Cities | Dylan Simon -- Colliers International | Scoop.it
Micro-units have been a staple in highly condensed cities such as San Francisco or New York where land is at a premium, but investors and developers are now adopting these small units in secondary cities such as Austin, Denver and Portland.
Dylan Simon's insight:

Micro-units have been a staple in highly condensed cities where land is at a premium, but investors and developers are now adopting these small units in secondary cities such as Austin, Denver and Portland.

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Seattle is ‘On the Map’: Sellen Construction’s Industry Outlook for 2019

Seattle is ‘On the Map’: Sellen Construction’s Industry Outlook for 2019 | Dylan Simon -- Colliers International | Scoop.it
Our backlog for the next two to three years is very strong, and we are still seeing many, many opportunities with both new and existing clients. Seattle is attracting industry leading technology companies in search of the local talent in cloud computing, artificial intelligence and visualization tools.
Dylan Simon's insight:

"[Sellen's] backlog for the next two to three years is very strong, and are still seeing many, many opportunities with both new and existing clients. Seattle is attracting industry leading technology companies in search of the local talent in cloud computing, artificial intelligence and visualization tools."

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Seattle based Tableau hits $841M in annual recurring revenue, up 41%, as transition to subscription model continues

Seattle based Tableau hits $841M in annual recurring revenue, up 41%, as transition to subscription model continues | Dylan Simon -- Colliers International | Scoop.it
Tableau finished the year with a headcount of 4,181, up 19 percent from the end of 2017, when it had 3,489 employees.
Dylan Simon's insight:

Tableau finished the year with a headcount of 4,181, up 19 percent from the end of 2017, when it had 3,489 employees.

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Core CRE Strategies Back in Favor with Institutional Investors

Core CRE Strategies Back in Favor with Institutional Investors | Dylan Simon -- Colliers International | Scoop.it
, investment in core properties is coming back into favor, with 41 percent of respondents choosing it as the most attractive strategy at the current point in the cycle compared to just 29 percent in 2018.
Dylan Simon's insight:

"Investment in core properties is coming back into favor, with 41 percent of respondents choosing it as the most attractive strategy at the current point in the cycle compared to just 29 percent in 2018."

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Healthy 2019 Projected for Multifamily Investment

Healthy 2019 Projected for Multifamily Investment | Dylan Simon -- Colliers International | Scoop.it
Investors should be keen on apartment assets due to strong fundamentals, opportunities for both buyers and sellers, and an abundance of capital.
Dylan Simon's insight:

Investors should be keen on apartment assets due to strong fundamentals, opportunities for both buyers and sellers, and an abundance of capital.

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$710M Portfolio Exudes Confidence in Northwest

$710M Portfolio Exudes Confidence in Northwest | Dylan Simon -- Colliers International | Scoop.it
Unico Investment sold a 27-building office portfolio of repositioned historic and newly constructed assets totaling 1.8 million square feet to Broad Street Principal Investments, an affiliate of Goldman Sachs.
Dylan Simon's insight:

Unico Investment sold a 27-building office portfolio of repositioned historic and newly constructed assets totaling 1.8 million square feet to Broad Street Principal Investments, an affiliate of Goldman Sachs.

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Blackstone Raises $20 Billion Real Estate Fund

Blackstone Raises $20 Billion Real Estate Fund | Dylan Simon -- Colliers International | Scoop.it
Blackstone’s real estate funds typically use $2 of debt for every dollar of equity. To illustrate the fund’s financial strength the WSJ noted that $60 billion exceeds the value of all commercial real estate purchased in New York, Chicago and San Francisco in the first 11 months of last year, according to Real Capital Analytics.
Dylan Simon's insight:

"Blackstone’s real estate funds typically use $2 of debt for every dollar of equity. To illustrate the fund’s financial strength the WSJ noted that $60 billion exceeds the value of all commercial real estate purchased in New York, Chicago and San Francisco in the first 11 months of last year, according to Real Capital Analytics."

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Amazon is considering enough space to build an HQ2 in Bellevue

Amazon is considering enough space to build an HQ2 in Bellevue | Dylan Simon -- Colliers International | Scoop.it
mazon is considering enough office space in Bellevue to give it room for 25,000 employees — the equivalent of its proposed HQ2 — as the company withdraws plans to build an office that size in New York.
Dylan Simon's insight:

Amazon is considering enough office space in Bellevue to give it room for 25,000 employees — the equivalent of its proposed HQ2 — as the company withdraws plans to build an office that size in New York.

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Spectrum sells Decibel and Reverb, near Yesler Terrace, for $57.7M

Spectrum sells Decibel and Reverb, near Yesler Terrace, for $57.7M | Dylan Simon -- Colliers International | Scoop.it
The three buildings were among the first new multifamily housing near Yesler Terrace, which is now undergoing a transformation of its own.
Dylan Simon's insight:

The two buildings were among the first new multifamily housing near Yesler Terrace, which is now undergoing a transformation of its own. 

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Fastest-Growing Renter Segment: High-Income Earners 

Fastest-Growing Renter Segment: High-Income Earners  | Dylan Simon -- Colliers International | Scoop.it
“The attitude toward renting at any income level is changing,” states the study's authors. “With renters becoming the majority population in many U.S. cities, the spike in the national population of wealthy-renter households could mean a change in attitude toward an American Dream that no longer belongs to this generation of renters.”
Dylan Simon's insight:

“The attitude toward renting at any income level is changing. With renters becoming the majority population in many U.S. cities, the spike in the national population of wealthy-renter households could mean a change in attitude toward an American Dream that no longer belongs to this generation of renters.”

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CRE Investor Sentiment Remains Optimistic, But We Are No Longer in the “Boom” Phase, RCM Survey Finds

CRE Investor Sentiment Remains Optimistic, But We Are No Longer in the “Boom” Phase, RCM Survey Finds | Dylan Simon -- Colliers International | Scoop.it
In responses to its survey, RCM also found the following sentiments:

Multifamily remains the preferred asset class, with industrial a close second.
Steadily increasing interest rates won’t change investors’ position as buyers in 2019.
Underwriting is more conservative due to rising rates, maturity of the cycle, the pullback of Chinese capital and other factors.
Dylan Simon's insight:

In responses to its survey, RCM also found the following sentiments:

  1. Multifamily remains the preferred asset class, with industrial a close second.
  2. Steadily increasing interest rates won’t change investors’ position as buyers in 2019.
  3. Underwriting is more conservative due to rising rates, maturity of the cycle, the pullback of Chinese capital and other factors.
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Seattle Metro Report: February 2019

Seattle Metro Report: February 2019 | Dylan Simon -- Colliers International | Scoop.it
Seattle, WA saw rent grow $40 to $1,940 but stayed the second priciest city.
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Seattle saw rent grow $40 to $1,940 but stayed the second priciest city.

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Local developer has big plan to capitalize on Bremerton's expected boom

Local developer has big plan to capitalize on Bremerton's expected boom | Dylan Simon -- Colliers International | Scoop.it
Bremerton-based developer Sound West Holdings LLC plans to tap into this activity by building Marina Square. The approximately $129 million downtown development
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Bremerton-based developer Sound West Holdings LLC plans to tap into this activity by building the $129 million downtown development Marina Square.

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Apartment Sector Well-Positioned in Case of a Downturn

Apartment Sector Well-Positioned in Case of a Downturn | Dylan Simon -- Colliers International | Scoop.it

Though the high end of the market may be feeling the strain of overbuilding, the sector overall is benefiting from long-term trends that should continue to fill apartment units for the foreseeable future.

Dylan Simon's insight:

Though the high end of the market may be feeling the strain of overbuilding, the sector overall is benefiting from long-term trends that should continue to fill apartment units for the foreseeable future.

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Freddie Mac Non-LIHTC Forward Loans Target Workforce Housing

Freddie Mac Non-LIHTC Forward Loans Target Workforce Housing | Dylan Simon -- Colliers International | Scoop.it
Non-LIHTC Forward loans allow developers to secure favorable terms for projects featuring affordable and workforce housing.
Dylan Simon's insight:

Non-LIHTC Forward loans allow developers to secure favorable terms for projects featuring affordable and workforce housing.

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Historic Brewery Gives Way to Mixed Use

Historic Brewery Gives Way to Mixed Use | Dylan Simon -- Colliers International | Scoop.it
ScanlanKemperBard has plans to further elevate the stature and improve the bustling Original Rainier Brewery property, while maintaining its historic integrity.
Dylan Simon's insight:

ScanlanKemperBard has plans to further elevate the stature and improve the bustling Original Rainier Brewery property, while maintaining its historic integrity.

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Living History

Living History | Dylan Simon -- Colliers International | Scoop.it
The challenges and opportunities of transforming historic buildings into engaging mixed-use residential destinations.
Dylan Simon's insight:

"At a time when residential developers are looking for ways to differentiate themselves and stand out in a crowded and competitive marketplace, renovating a historic property is an attractive and defining advantage."

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The Telecom Competitive Edge Report from Intelligence

The Telecom Competitive Edge Report from  Intelligence | Dylan Simon -- Colliers International | Scoop.it
T-Mobile is outpacing the rest of the Big Four US carriers on value, loyalty, and satisfaction — here's what consumers say is most important when selecting a mobile provider
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T-Mobile is outpacing the rest of the Big Four US carriers on value, loyalty, and satisfaction — here's what consumers say is most important when selecting a mobile provider

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Apple expansion moves show how Silicon Valley is losing its grip on tech jobs

Apple expansion moves show how Silicon Valley is losing its grip on tech jobs | Dylan Simon -- Colliers International | Scoop.it
many of the tech startups planting their flag in Silicon Valley to be near angel investors, venture capitalists, investment banks, and tech talent are keeping only small teams there. They are increasingly utilizing less-costly satellite offices, remote co-working spaces, or other remote-work options for the majority of their employees.
Dylan Simon's insight:

Many of the tech startups planting their flag in Silicon Valley to be near angel investors, venture capitalists, investment banks, and tech talent are keeping only small teams there. They are increasingly utilizing less-costly satellite offices, remote co-working spaces, or other remote-work options for the majority of their employees.

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