SMARTCAP RESEARCH- OCTOBER 2021 NEWSLETTER
Arlington Air Industrial Park's Newest Tenant
SMARTCAP, Inc. is excited to welcome our newest tenant, Index Sensors & Controls, Inc., to Arlington Air Industrial Park! Index Sensors is a supplier to some of the world's most demanding equipment manufacturers, with clients including Cummins, Caterpillar, John Deere, and a wide range of specialty original equipment manufacturers. Index Sensors is occupying a 18,848 SF suite, bringing our occupancy to 65% leased!
Richard Peterson, Chris Peterson, SIOR, CCIM, and Mason Cogle with Lee & Associates Commercial Real Estate Services | Northwest represented the landlord, while Matt Hagen, SIOR and Travis Stanaway with Kidder Mathews represented the tenant. Welcome to the neighborhood, Index Sensors & Controls!
SMARTCAP Attends Investment Conference in Las Vegas
In early October, three members of the SMARTCAP, Inc. Executive Team attended the 506 Investor Group Conference in Las Vegas. SMARTCAP, Inc. was among 16 sponsors voted by investors to attend this conference and had the incredible opportunity to meet with investors from all over the country, as well as other alternative investment groups. SMARTCAP, Inc. CEO Tim Shoultz, Director of Development Robert Shipley, and Director of Acquisitions Brian Burmester, met with over 200 accredited investors and were able to share SMARTCAP, Inc.’s data-driven investment approach, and present them with our latest offering, SMARTCAP, Inc. Industrial Value Fund 3.
Our investors are our lifeblood and after the challenges of 2020, it was invaluable for us to be able to meet face-to-face with investors and others in the industry. We look forward to more events like this, and hope to have the opportunity to meet all of our investors in person. If you are a local investor, or if you will be visiting Seattle, we would love to take you out for a coffee and have the opportunity to get to know you in person! To set up a meeting with an Executive Team member, please email firstname.lastname@example.org. To learn more about our latest offering, Industrial Value Fund 3, please visit the Offering Page: https://hubs.la/H0Zq3rj0
Office Market Strong in Bellevue, WA
New York City-based Tishman Speyer submitted documents earlier this month to phase a large, four-building office project in Bellevue. The 14 story project, 12th and Main, will be over 220 feet tall and will have room for an estimated 6,400 employees. Tishman will start the first tower in 2022 with occupancy occurring in 2025.
The first phase will have nearly 499,999 SF of office and around 27,000 SF of retail. The second phase will have close to 457,275 SF of office and 12,000 SF of retail. The project will have 2,115 parking stalls. The 5-acre site is across the street from the East Main light rail station which is scheduled to open in 2023. Tishman acquired the property for $152.5 million from Bellevue-based PMF investments.
188th St. Industrial Park Now 100% Leased!
SMARTCAP, Inc. is excited to announce that we are at 100% occupancy at 188th St. Industrial Park! This project was completed in September of 2020, and in just over a year we have filled the space with seven diverse tenants ranging from a leading edge sonar technology company to wholesale pet supply company. We are so proud of this development and the tenants we have! Our Leasing and Asset Management team worked closely with Richard Peterson, Chris Peterson, SIOR, CCIM, and Mason Cogle of Lee & Associates Commercial Real Estate Services | Northwest to bring this building to full occupancy and we are grateful for our relationship with them, and look forward to a continued successful relationship with our leasing team and tenants.