Seattle #6 in Walkability

WalkabilitySeattle company, Walk Score, ranks Seattle #6 in “walkability” behind NYC, San Fran, Boston, Chicago, and Philly.  If you have never checked out the website you should.  Type in your home address and it will score your home for “walkability” – how close it is to restaurants, coffee shops, grocery stores, etc.

Seattle + Real Estate – July 22nd

Downtown SeattleNews Flash:  Parking in Seattle is expensive!  Downtown Seattle’s parking garages are the 6th most expensive in the nation at an median price of $294/month or $24/day.  Now the City of Seattle is charging for parking until 8 PM at night…so I am sure that will make it better.

Seattle Office Vacancy Falling:  CoStar reports the Seattle office vacancy rate is down to 12.3% and Amazon is one of the big reasons why.

Seattle Rentals are Hot:  Check out the Madrona Rental market, luxury rentals lease as soon as they come on the market.  Madrona is not unique in Seattle, rentals all over the city are renting quickly.

Seattle Apartment Building Sells for $64 Million

Quick Hit:  Seattle apartment building sells for $64 million after selling for $37 million in 2004.  The 350+ unit building is located at 1000 8th Avenue right up off Madison above I-5.   The sale is the second largest involving an apartment building in King County this year.

Two Headquarters for Sale in Seattle

Seattle Commercial Real EstateIt is not new news, but I came across a recent article about Fisher Plaza being for sale.  This has been a long saga between a major shareholder and the board on whether to sell the building.  Looks like the shareholder, FourFront Capitol Group, is getting its way.

With a third of its building unoccupied, Regence Blue Shield, is putting its headquarters up for sale.  The Seattle building is located at 1800 Ninth Ave.

Jumbo Limits Are Changing (Most Likely)

Jumbo Loan LimitsUnless the government steps in, the jumbo limits will go down on October 1st for Fannie Mae, Freddie Mac, and the Federal Housing Administration.  Three years ago Congress temporarily rose the maximum home loan amounts for high cost areas.  The limit is now $729,750 in certain areas (not in Washington State) but will go down to a maximum of $625,500.  There were two interesting and somewhat contrary articles in this weekends papers.  One article said local banks are ready to step in and thus changes are expected to be minimal.  The other articles spoke about Kitsap County being hit hard (map) (limits going down 35% compared to King County limits going down about 11%) and local banks not being able to absorb the loans in the counties.

Seattle+ Real Estate News – July 12th

Downtown SeattleAccording to Geek Wire, Amazon, who has added 4,200 people worldwide in the first quarter of 2011 is eyeing more office space in the South Lake Union / Seattle Downtown area.

The Seattle Times reports that apartments are being built and being built in Seattle.  Approximately 85% of apartment buildings and 90% of the apartment units in King/Snohomish County are being built in Seattle.

Move over Madoff, Seattle’s pyramid scheme was by a 2005 UW graduate who was taking investor’s money to buy property in Peru.

NHL or NBA in Seattle?  Chicago investor is expressing interest in a real estate deal to build an arena most likely on the Eastside.

Swedish sells top two floors of one of their buildings to Unico.

Seattle+ Real Estate News – July 8th

Unit A of 601 Broadway on First Hill was purchased by Unico Properties of Seattle from Swedish Health Services this week for $18.9 million.  The unit is comprised of 42,846 sf of office space.

This week Emerald Bay Equity broke ground on a new mixed-use building in Queen Anne called Seven Hills.  It will have 57 residential units and over 8,000 sf of retail space.

In related news, RREFF, a real estate investment business bought two buildings from Emerald Bay Equity.  The Queen Anne buildings, Eden hill and Sweetbrier, have a total of 81 apartments and 27,000 sf of retail space.