SMARTCAP lives by a set of core values, one being "Be a Good Corporate Citizen". We take that to heart and when the opportunity to volunteer for Habitat for Humanity was presented to our Director of Asset Management, Kellanne Henry, we jumped at the chance! A group of SMARTCAP employees spent the day in North Bend working on a seven-unit housing development where we were tasked with painting, climbing scaffolding, and working on the trim. We were so grateful for the opportunity to give back to a community that's so close to our hearts!
Market-Ready Suite Completed at Evergreen Office Park
Nothing says fall like bright orange and red leaves, crisp mornings, stormy nights, and.... a fresh coat of paint?! At least that's how fall is feeling at SMARTCAP's Evergreen Office Park, where market-ready work was completed on 4,428 square feet of rentable space made up of eight offices and one kitchen. The work, done by Davis Schueller, included demo of designated walls, installation of new carpet, LVT flooring, a new kitchen featuring cabinets, countertops, and a dishwasher, relites, and the painting of all walls and doors. We look forward to welcoming a new tenant into this market-ready office space, conveniently located in Bellevue along the desirable SR 520 corridor.
Experts Optimistic About Construction Impact on West Coast CRE
Industry experts are overall optimistic about the construction industry's impact on West Coast commercial real estate, despite rising inflation, supply chain disruptions, and lasting effects of Covid. CRE firm JLL released a national construction report earlier this year, detailing the state of the industry in the first half of 2022.
Carmen Van Liere, JLL's Project & Development Services VP and Seattle/Bellevue lead stated, “We’re still seeing the market being bullish in Seattle. It’s as hot as it’s ever been... Every general contractor in our market is incredibly busy.” While some major developments have been put on hold, there are still many projects in the pipeline or underway, including the Microsoft Campus expansion and projects at Seattle University and University of Washington. Van Liere also noted that life science is hot in Seattle, and that she is “cautiously optimistic for the future and certainly seeing a ton of demand.”