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CBRE wins Union Station Management, Leasing Assignments

CBRE Asset Services and Brokerage recently won the property management and landlord leasing assignments for Union Station, the three-building, 575,000 sq. ft. Class A office complex near the I-5/I-90 interchange in Seattle. The project is owned by a local trust, which was looking for a new team to sustain their assets and demonstrate the most effective marketing plan to fill the potential departure by Amazon.

A pre-interview with the client unearthed the need for a full service commercial real estate firm, according to Steve Penn, Managing Director for Asset Services in Seattle. “Keys to our win were CBRE's expansive, fully integrated platform, our sustainability program and the ability to provide ownership cost savings through our national buying power and local leverage,” said Penn.

The new assignment has created additional opportunities for CBRE staff. Randi Pierson (Senior Real Estate Manager) and Jay Summers (Real Estate Services Administrator) are joining CBRE from the prior management company. Valerie Lane, Associate Director, will oversee the Asset Services portion of the account.

Tim O’Keefe, Dean Johnson, Jesse Ottele and Cavan O’Keefe will be handling the leasing for Union Station. O’Keefe and Johnson’s prior relationship with the client helped CBRE open the door and ultimately win the highly coveted assignment.

CBRE Wins Northgate Executive Center Leasing Assignment

Ric Brandt, John Bauer and Owen Rice recently won the landlord leasing assignment for Northgate Executive Center, a 198,451 sq. ft. three-building office complex in Northgate. TA Associates Realty put the leasing out to bid, summoning CBRE, PREP, Colliers and GVA Kidder Mathews (the incumbent leasing team) to present their best marketing plan to fill the upcoming vacancy in the complex.

Brandt, Bauer and Rice conducted two pre-interviews with the client to fully understand their needs and concerns. With the information they learned from these meetings, the team specifically tailored and focused their presentation material, emphasizing the market coverage CBRE would provide to TA Associates Realty (one of the competitive advantages CBRE had over all the other teams interviewed).

One of the main points the client wanted addressed was how the new leasing team would market the 100,000 sq. ft. of space that the University of Washington will be vacating in the next 24 months. CBRE used a banner presentation to highlight the tools they would use to fill the building, and included additional lines of service CBRE would be able to offer the client in the presentation.

“It’s been over a decade since Northgate has had 100,000 sq. ft. available in a single property. We’re excited to be the team chosen for this assignment,” stated Rice.

TA Associates Realty also owns industrial property in Kent and Kirkland, with CBRE providing the leasing for the 109,180 sq. ft. Kirkland Business Center on the Eastside.