Dylan Simon -- Colliers International
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Over 100,000 Apartment Units are Coming!

Over 100,000 Apartment Units are Coming! | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

Trends toward urbanization that began to take shape in the last decade look as though they will continue for some time. Developers plan to add more than 60,000 apartment units in urban neighborhoods in the next several years. Yet the story doesn’t end there, as another +40,000 apartments units are planned for otherwise suburban markets.

 

Understanding the potential impact of this new development before it happens is essential to predicting the trajectory of the region’s apartment investment markets, but first you must learn the what, where, and when of new apartment deliveries.

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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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Public records reveal another potential giant Amazon tower in Bellevue

Public records reveal another potential giant Amazon tower in Bellevue | Dylan Simon -- Colliers International | Scoop.it
Amazon’s plan to build its tallest tower yet in Bellevue, Wash., could be just the beginning of the company’s ambitions for a prime site that will eventually be home to thousands of employees.
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Amazon’s plan to build its tallest tower yet in Bellevue, Wash., could be just the beginning of the company’s ambitions for a prime site that will eventually be home to thousands of employees.

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EQ Office buys two Seattle towers for $1.2B from Ivanhoe Cambridge

EQ Office buys two Seattle towers for $1.2B from Ivanhoe Cambridge | Dylan Simon -- Colliers International | Scoop.it
EQ Office on Friday paid $1.2 billion for two 1980s-era Seattle office towers, 999 Third and US Bank Centre, and company said it plans to spend $89 million repositioning the assets.
Dylan Simon's insight:

EQ Office on Friday paid $1.2 billion for two 1980s-era Seattle office towers, 999 Third and US Bank Centre, and company said it plans to spend $89 million repositioning the assets.

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Here's Where US Apartment Market is Heading

Here's Where US Apartment Market is Heading | Dylan Simon -- Colliers International | Scoop.it
Apartment developers are experimenting with new and niche styles, amenities and features to keep project pipelines flowing and new buildings filled with renters, almost a decade into a national economic expansion that propelled the U.S. multifamily market to new heights.
Dylan Simon's insight:

Apartment developers are experimenting with new and niche styles, amenities and features to keep project pipelines flowing and new buildings filled with renters, almost a decade into a national economic expansion that propelled the U.S. multifamily market to new heights.

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Over 100,000 Apartment Units are Coming!

Over 100,000 Apartment Units are Coming! | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

Trends toward urbanization that began to take shape in the last decade look as though they will continue for some time. Developers plan to add more than 60,000 apartment units in urban neighborhoods in the next several years. Yet the story doesn’t end there, as another +40,000 apartments units are planned for otherwise suburban markets.

 

Understanding the potential impact of this new development before it happens is essential to predicting the trajectory of the region’s apartment investment markets, but first you must learn the what, where, and when of new apartment deliveries.

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Apple expected to take massive South Lake Union office project near Amazon

Apple expected to take massive South Lake Union office project near Amazon | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

The two-tower development would give Apple enough space for 4,200 employees using the industry standard of 150 square feet per employee.

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Seattle DJC.com local business news and data - Money - 5 reasons to keep renting

Seattle DJC.com local business news and data - Money - 5 reasons to keep renting | Dylan Simon -- Colliers International | Scoop.it
Although homeownership can offer financial benefits like equity, appreciation and tax deductions, there may still be good reasons to keep renting even when you can afford to buy, including more mobility and financial flexibility.
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Although home ownership can offer financial benefits like equity, appreciation and tax deductions, there may still be good reasons to keep renting even when you can afford to buy, including more mobility and financial flexibility.

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Cross-Laminated Timber Will Save Time, Labor Costs On Local Commercial Construction Projects

Cross-Laminated Timber Will Save Time, Labor Costs On Local Commercial Construction Projects | Dylan Simon -- Colliers International | Scoop.it
Washington is the first state in the nation to allow CLT to be used in buildings without first pursuing alternative methods.
Dylan Simon's insight:

As commercial construction costs soar and the time it takes to complete a project continues to climb, the new cross-laminated timber building option may soon be offering some relief for Washington state's commercial real estate community.

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SeaLevel Properties Breaks Ground On Capitol Hill Mixed-Use Building

SeaLevel Properties Breaks Ground On Capitol Hill Mixed-Use Building | Dylan Simon -- Colliers International | Scoop.it
The 40,800 SF mixed-use building is on Capitol Hill at 953 East Union St. near the light rail station. The 60 units will be a combination of one-bedroom and small efficiency dwelling units. The site will also include 4,400 SF of commercial space.
Dylan Simon's insight:

The 40,800 SF mixed-use building is on Capitol Hill at 953 East Union St. near the light rail station. The 60 units will be a combination of one-bedroom and small efficiency dwelling units. The site will also include 4,400 SF of commercial space.

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Seattle was second strongest US apartment market in Q1

Seattle was second strongest US apartment market in Q1 | Dylan Simon -- Colliers International | Scoop.it
The metro Puget Sound region's softening apartment market saw a burst of rental activity during the first three months of 2019, gaining thousands of renters and finishing second nationally, according to a new report by RealPage Inc.
Dylan Simon's insight:

The metro Puget Sound region's softening apartment market saw a burst of rental activity during the first three months of 2019, gaining thousands of renters and finishing second nationally, according to a new report by RealPage Inc.

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2019 Legislative Session Standout: Real Estate Excise Tax Overhaul

2019 Legislative Session Standout: Real Estate Excise Tax Overhaul | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

The 2019 legislative session certainly was a busy one. 481 bills passed the state legislature, many with direct implications for the commercial real estate industry.

 

We see the real estate excise tax overhaul as the most urgent and actionable, as it changes Washington’s excise tax from a flat statewide rate to a progressive structure.

 

How will this impact you on January 1, 2020?

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8-story building may replace Uptown courtyard apartments

8-story building may replace Uptown courtyard apartments | Dylan Simon -- Colliers International | Scoop.it
Owner Innovare 512 5th Ave W LLC and Public47 Architects plan to raze the old structure and replace it with an eight-story building with about 65 units and one level of underground parking for 30 vehicles.
Dylan Simon's insight:

Owner Innovare plans to  replace the current structure with an eight-story building with about 65 units and one level of underground parking for 30 vehicles.

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78 Greenwood units planned for upzoned corner site

78 Greenwood units planned for upzoned corner site | Dylan Simon -- Colliers International | Scoop.it
three old houses at and near 7903 Greenwood Ave. N. are being prepared for redevelopment. With the recent citywide upzone, construction is now allowed up to 55 feet.
Dylan Simon's insight:

Three old houses at and near 7903 Greenwood Ave. N. are being prepared for redevelopment. With the recent citywide upzone, construction is now allowed up to 55 feet.

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Lowe assembles Yesler Terrace development site for $37M

Two buildings with a total 549 units are planned. Lowe received its master user permit for the 335-unit first phase last week.
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Two buildings with a total 549 units are planned. Lowe received its master user permit for the 335-unit first phase last week.

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Seattle Developers Are Clamoring For Space Near New Waterfront Park

Seattle Developers Are Clamoring For Space Near New Waterfront Park | Dylan Simon -- Colliers International | Scoop.it
Now that the freeway is coming down, the once-gritty stretch is enjoying new attention from local developers who are clamoring to stake out some real estate close to the new-and-improved Waterfront Park and capitalize on the stunning views of Puget Sound and mountains.
Dylan Simon's insight:

Now that the freeway is coming down, the once-gritty stretch is enjoying new attention from local developers who are clamoring to stake out some real estate close to the new-and-improved Waterfront Park and capitalize on the stunning views of Puget Sound and mountains.

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Can Seattle become a financial technology hub? Why some tech leaders are banking on it 

Can Seattle become a financial technology hub? Why some tech leaders are banking on it  | Dylan Simon -- Colliers International | Scoop.it
“New fintech companies also look more like Amazon than Wells Fargo, so Seattle’s abundance of engineering talent is a more important factor than the lack of banking talent.”
Dylan Simon's insight:

“New fintech companies look more like Amazon than Wells Fargo, so Seattle’s abundance of engineering talent is a more important factor than the lack of banking talent.”

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Apple doubles down on Seattle with plans to employ 2,000 people in ‘key engineering hub’ 

Apple doubles down on Seattle with plans to employ 2,000 people in ‘key engineering hub’  | Dylan Simon -- Colliers International | Scoop.it
Expanding upon an earlier promise to grow to 1,000 employees in Seattle, Apple and Durkan said that the plan is to now reach 2,000 over the next five years.
Dylan Simon's insight:

Expanding upon an earlier promise to grow to 1,000 employees in Seattle, Apple and Durkan said that the plan is to now reach 2,000 over the next five years.

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Akerman Survey Finds Optimism About Real Estate Market Outlook

Akerman Survey Finds Optimism About Real Estate Market Outlook | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

37 percent of executives said their outlook for the real estate market this year is “marginally more optimistic” than it was last year, and 33 percent said they were “significantly more optimistic.”

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Sonos expands in Seattle with 40,000-square-foot lease

Sonos expands in Seattle with 40,000-square-foot lease | Dylan Simon -- Colliers International | Scoop.it
The smart speaker company will vacate its current offices at Capitol Hill's Bullitt Center and in a WeWork downtown.
Dylan Simon's insight:

The company is adding engineers quickly and is primarily growing its software team locally, though Pedersen said Seattle is also a strong market for marketing, legal and sales representatives at Sonos.

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Seattle will become Salesforce HQ2 via $15.7B Tableau deal, as Benioff gushes about talent pool

Seattle will become Salesforce HQ2 via $15.7B Tableau deal, as Benioff gushes about talent pool | Dylan Simon -- Colliers International | Scoop.it
With its $15.7 billion acquisition of Tableau Software, announced Monday morning, Salesforce isn’t just making a bet on a single company, or on the business intelligence and data visualization market. It’s betting on Seattle as a source of future hiring and growth, escalating the competition for…
Dylan Simon's insight:

With its $15.7 billion acquisition of Tableau Software, announced Monday morning, Salesforce isn’t just making a bet on a single company, or on the business intelligence and data visualization market. It’s betting on Seattle as a source of future hiring and growth, escalating the competition for tech talent in the region.

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The Growing Competitiveness of the Coliving Market

With renters accounting for 65% of the under-35 cohort and only an estimated 5,000 coliving beds currently available, coliving is at a tipping point and increasingly on the radar of institutional investors
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With renters accounting for 65% of the under-35 cohort and only an estimated 5,000 coliving beds currently available, coliving is at a tipping point and increasingly on the radar of institutional investors.

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Hardwick's Hardware Site In U-District Sells For $17.25M

Hardwick's Hardware Site In U-District Sells For $17.25M | Dylan Simon -- Colliers International | Scoop.it
The former site of Hardwick’s Hardware in the University District recently sold for just over $17.25M to Bellevue-based 4214 Roosevelt Way LLC. The LLC’s registered agent is Wei Bi, according to public records. Bi is associated with Bellevue-based Create World. An 18-story, 200-unit, mixed-use building is planned for the three-parcel site.
Dylan Simon's insight:

The former site of Hardwick’s Hardware in the University District recently sold for just over $17.25M. An 18-story, 200-unit, mixed-use building is planned for the three-parcel site.

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SLI's kit-built tower in Belltown will wear a solar-powered ‘crown'

Nearly half the building's energy will be generated by photovoltaic panels.
Dylan Simon's insight:

303 Battery, one of the greenest, most futuristic and solar-panel-studded projects ever in Seattle will have  15 stories and 112 units, with no parking and about 1,900 square feet of retail/commercial space on the corner of Third Avenue.

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VIA Architecture takes over Belltown high-rise design for Security Properties

Notable changes to Belltown 36 include: 29 stories (down from 30); 212 units (down from 325); 8,700 square feet of retail (up slightly); 16,710 square feet of offices in the podium (new)
Dylan Simon's insight:

Notable changes to Belltown 36 include 6,710 square feet of offices in the podium, while lowering the unit count fro, 325, to 212.

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Big-city growth slows across U.S. — but Seattle still ranks No. 2 in 2018

Big-city growth slows across U.S. — but Seattle still ranks No. 2 in 2018 | Dylan Simon -- Colliers International | Scoop.it
That pencils out to a one-year increase of 2.1%, which ranks Seattle as the second-fastest growing among the 50 most-populous U.S. cities. We were just a fraction behind No. 1, Fort Worth, Texas.
Dylan Simon's insight:

With a growth rate of 2.1%, Seattle is the second-fastest growing among the 50 most-populous U.S. cities. We were just a fraction behind No. 1, Fort Worth, Texas.

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How Will Oregon Rent Control Impact Portland's Apartment Market?

How Will Oregon Rent Control Impact Portland's Apartment Market? | Dylan Simon -- Colliers International | Scoop.it
While rent control never benefits the housing market, the state’s new regulations don’t appear especially restrictive.
Dylan Simon's insight:

Oregon just imposed the nation’s first statewide rent controls, and while rent control never benefits the housing market, the state’s new regulations don’t appear especially restrictive.

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