| Puget Sound News & Reports |
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Corfac International - Affiliate
CORFAC International is a Network of Independently Owned Entrepreneurial Firms and Affiliates in
Individual Markets. Established in 1989 as a non-profit association, the organization invites firms to join
the network based on geographic markets and the ability of the firm to respond to the requirements of
clients and colleagues for services. http://www.corfac.com
CORFAC International is a Network of Independently Owned Entrepreneurial Firms and Affiliates in
Individual Markets. Established in 1989 as a non-profit association, the organization invites firms to join
the network based on geographic markets and the ability of the firm to respond to the requirements of
clients and colleagues for services. http://www.corfac.com
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| Featured Properties |
B R I A N B R U I N I N K S, CCIM
Principal
| Industrial, Office & Investment Properties |
Main 206.244.0770 Direct 206.336.5324 Cell 206.856.6249 Email Brian 415 Baker Blvd, Ste 200, Tukwila, WA 98188
THE ANDOVER
COMPANY, INC.
CORFAC INTERNATIONAL
Why shipper chose Tacoma, The New Tribune, 8/6/07
"Tokyo-based shipping company NYK Line picked Tacoma over Seattle for its new terminal because the port
had land available for development. . . The Port of Tacoma recently announced that it will build a $300 million
container terminal on the Blair Waterway for NYK Line – the shipping company that will then lease the
terminal from the port."
The shipping company will relocate from its terminal at the Port of Seattle, says Peter Keller, NYK President:
"For years, we’ve been operating out of Terminal 18 (in Seattle). T18 has no on-dock rail capability, and the
area is a bit restrictive because of its proximity to the downtown core. We’ve had discussions with the ports of
Seattle, Tacoma, Portland, Prince Rupert and Vancouver. We came to the conclusion that the only place that
had attributes we need was in the Pacific Northwest region. With that, the only place that had any viable
capacity was Tacoma."
Economy puts end to slump. Gross domestic product grows by 3.4 percent, The
Olympian, 7/28/07
"The economy popped out of its rut this spring and grew at the strongest pace in more than a year, giving
President Bush something to crow about. The best barometer of the country's economic fitness - gross
domestic product - increased at a 3.4 percent annual rate in the second quarter, the Commerce Department
reported Friday.
Businesses regained their appetite to spend and sold more goods overseas, contributing to the improved
performance. Stronger government spending also helped out. Individuals, however, took a breather as they
coped with high gasoline prices and the ill effects of the housing slump, including spiking foreclosures and
late mortgage payments. The sour housing market continued to weigh on the economy but not nearly as
much as it had in previous quarters.
Economic growth in the first three months of the year had slowed to a near crawl of just 0.6 percent, the
slowest in more than four years."
Warehouses shift southward, The New Tribune, 7/30/07
"Five million square feet of warehouse space is proposed in Lacey and Tumwater, and more could be on the
way. Increasingly, Puget Sound-area warehouse developers in search of more land at affordable prices have
turned to the southern end of South Sound for their projects as large parcels of land grow scarce in Pierce
and King counties."
Tacoma port boom may spill over, The Olympian, 7/26/07
"The Port of Tacoma announced Thursday that it will open a $300 million container terminal in five years, and
Port of Vancouver officials hope to build a $453 million vehicle-distribution center in three to four years. The
Tacoma project could someday drive more noncontainer business to Olympia; the Vancouver project is not
likely to have any effect here, Olympia port officials said Thursday.
As Tacoma container terminal space expands, that could squeeze space for noncontainer goods, known in
the industry as “break bulk” cargo. Port of Olympia officials hope to target break bulk cargoes to boost their
business at the struggling marine terminal.
Olympia’s main cargoes are forest products and garnet, a finely ground compound used in high-speed
water-cutting operations. The Olympia port has added spot shipments of windmill blades, mining equipment
and automobiles during the past couple of years."
Employment for Counties and Cities, Puget Sound Trends Index, 7/2007
According to the Puget Sound Region Council's report on the health of employment in Western Washington,
the number of jobs in the Puget Sound area increased 2.7% from this time last year; estimating the total
number of jobs in the region at 1.82 million. This is well above the national average of a 1.5% increase,
showing that Western Washington maintains a healthy economy. Snohomish and Kitsap counties had the
largest gains: 5.4% and 4% respectively. The majority of the growth was in construction/resources and
manufacturing. King County experienced a 2.9% gain in the number of jobs and had 8 of the 10 cities with the
highest growth in the number of jobs, while Pierce County had a 3.5% gain.
Thousands turn out for opening day of new Tacoma Narrows bridge, Seattle P-I, 7/15/07
"Thousands turned out for opening day festivities at the new Tacoma Narrows Bridge on Sunday as state
transportation crews geared up to open the milelong span to traffic. . . The party started in the morning with a
5K run and walk across the bridge that drew more than 10,000 participants. . . The deck later opened to
pedestrians who were invited to stroll across before it was to open to traffic early Monday morning."
Tack another 2 cents onto gas, The News Tribune, 7/16/07
"The third installment of a phased-in hike in the state gas tax will take effect Sunday, when the tax rises by 2
cents a gallon. The fourth and final installment will be a 1.5-cent increase on July 1, 2008, completing the 9.5-
cent increase approved by the Legislature in 2005. Combined with vehicle fee increases and a 5-cent gas tax
increase that took effect in 2003, the most recent gas tax will raise enough money to pay for about $13 billion
on 432 transportation improvement projects through 2021."
State says wages rose faster than inflation last year, PSBJ, 7/13/07
"Workers' wages in Washington rose faster than the inflation rate -- more than 5 percent -- according to the
state. The average worker made $42,881 last year, up 5.3 percent from 2005, while the inflation rate last year
was 3.7 percent, according to the state Employment Security Department. . . The latest report breaks down
salaries by county. King County workers earned the highest average annual wage in Washington at $53,482
last year, followed by Snohomish County at $42,906 . . ."
Washington moves up on 'best state for business' list, PSBJ, 7/11/07
Washington is the fifth-best state in the country for business, according to the latest ranking by Forbes
magazine. Washington moved up seven places on this year's list, tying with Tennessee for the biggest leap
of all states. Virginia topped the magazine's rankings, followed by Utah, North Carolina and Texas.
May Unemployment rate inches higher, PSBJ, 6/12/07
"The state unemployment rate rose to 4.6 percent last month from April's 4.4 percent, but state officials said
the rate is still at 'historic lows."' Nationally, the unemployment rate stayed at 4.5 percent in May.
Defunct Steam Plant Going to Port in $7.65 Million Sale, The News Tribune, 6/25/07
"The Port of Tacoma will buy Tacoma Power’s defunct steam plant on the East Blair Peninsula on the
Tideflats. The port plans to pay $7.65 million for the property off Taylor Way." According to the News Tribune,
the site will be used for additional container storage.
Workers, Employers to get Brief Tax Break, Seattle P-I, 6/22/07
"Starting in July, Washington workers and their employers will receive a six-month reprieve from some
workers' compensation insurance premiums -- a move state officials say will save businesses $315
million. During the temporary rate break, employers won't have to pay premiums to the Department of Labor
and Industries Medical Aid Fund, according to a statement issued Thursday by the department." The tax
break lasts until 1st quarter 2008.
Amazon Speculated to Move to South Lake Union Area, PSBJ, 6/22/07
Rumor has it that Amazon is in negotiations to lease as much as 1 million square feet in the up-and-coming
South Lake Union Area.
Despite Heat, Pay at the Top Kept Going Up, Seattle Times, 6/24/07
"The Northwest's top CEOs saw their pay go way up last year, according to a new analysis for The Seattle
Times. More than half of the 20 best-paid CEOs who were in place for both 2005 and 2006 made at least
$4.7 million, a 28 percent increase from the year before."
Clise Family Puts Huge Chunk of Downtown Seattle Land up for Sale, PSBJ, 6/16/07
"A large chunk of the Denny Triangle area in north downtown Seattle has been put up for sale by Seattle's
Clise family, which began buying the properties back in the late 1800s. Spread roughly over seven city blocks,
the 12-acre offering represents the undeveloped land held by Clise Properties Inc. The sales does not
include properties the family has already developed such as 1700 Seventh Ave. With new zoning allowing
taller buildings in the downtown area, as much as 13 million square feet could be built on properties, which
are now largely occupied by surface parking lots."
Retail Sales Up More Than Expected, The News Tribune, 4/16/07
Retail sales increased last month according to The News Tribune article entitled Retail sales up more than
expected; "These sales increased 0.7 percent in March, up from a 0.5 percent gain in February. It was the
best showing since a 1.1 percent rise in December, the Commerce Department reported Monday." Experts
believe better weather and an early Easter brought shoppers out. It was predicted that retail sales would rise
0.8%.
"In another report, the Commerce Department said that businesses boosted their inventories held on
shelves and backlots by 0.3 percent in February, the biggest gain in five months. The increase came after an
extended period when businesses have tried to trim their overhang of unsold items in the face of weaker-
than-expected sales".
Job hiring stronger in the West, The News Tribune, 4/5/07
"The West and the South will have the strongest hiring in the country in the second quarter, according to a
CareerBuilder.com survey released Wednesday.
Thirty-four percent of employers in the West and 31 percent in the South plan to increase their staff levels,
compared to 26 percent in Northeast and 24 percent in the Midwest, the survey reports."
"Tokyo-based shipping company NYK Line picked Tacoma over Seattle for its new terminal because the port
had land available for development. . . The Port of Tacoma recently announced that it will build a $300 million
container terminal on the Blair Waterway for NYK Line – the shipping company that will then lease the
terminal from the port."
The shipping company will relocate from its terminal at the Port of Seattle, says Peter Keller, NYK President:
"For years, we’ve been operating out of Terminal 18 (in Seattle). T18 has no on-dock rail capability, and the
area is a bit restrictive because of its proximity to the downtown core. We’ve had discussions with the ports of
Seattle, Tacoma, Portland, Prince Rupert and Vancouver. We came to the conclusion that the only place that
had attributes we need was in the Pacific Northwest region. With that, the only place that had any viable
capacity was Tacoma."
Economy puts end to slump. Gross domestic product grows by 3.4 percent, The
Olympian, 7/28/07
"The economy popped out of its rut this spring and grew at the strongest pace in more than a year, giving
President Bush something to crow about. The best barometer of the country's economic fitness - gross
domestic product - increased at a 3.4 percent annual rate in the second quarter, the Commerce Department
reported Friday.
Businesses regained their appetite to spend and sold more goods overseas, contributing to the improved
performance. Stronger government spending also helped out. Individuals, however, took a breather as they
coped with high gasoline prices and the ill effects of the housing slump, including spiking foreclosures and
late mortgage payments. The sour housing market continued to weigh on the economy but not nearly as
much as it had in previous quarters.
Economic growth in the first three months of the year had slowed to a near crawl of just 0.6 percent, the
slowest in more than four years."
Warehouses shift southward, The New Tribune, 7/30/07
"Five million square feet of warehouse space is proposed in Lacey and Tumwater, and more could be on the
way. Increasingly, Puget Sound-area warehouse developers in search of more land at affordable prices have
turned to the southern end of South Sound for their projects as large parcels of land grow scarce in Pierce
and King counties."
Tacoma port boom may spill over, The Olympian, 7/26/07
"The Port of Tacoma announced Thursday that it will open a $300 million container terminal in five years, and
Port of Vancouver officials hope to build a $453 million vehicle-distribution center in three to four years. The
Tacoma project could someday drive more noncontainer business to Olympia; the Vancouver project is not
likely to have any effect here, Olympia port officials said Thursday.
As Tacoma container terminal space expands, that could squeeze space for noncontainer goods, known in
the industry as “break bulk” cargo. Port of Olympia officials hope to target break bulk cargoes to boost their
business at the struggling marine terminal.
Olympia’s main cargoes are forest products and garnet, a finely ground compound used in high-speed
water-cutting operations. The Olympia port has added spot shipments of windmill blades, mining equipment
and automobiles during the past couple of years."
Employment for Counties and Cities, Puget Sound Trends Index, 7/2007
According to the Puget Sound Region Council's report on the health of employment in Western Washington,
the number of jobs in the Puget Sound area increased 2.7% from this time last year; estimating the total
number of jobs in the region at 1.82 million. This is well above the national average of a 1.5% increase,
showing that Western Washington maintains a healthy economy. Snohomish and Kitsap counties had the
largest gains: 5.4% and 4% respectively. The majority of the growth was in construction/resources and
manufacturing. King County experienced a 2.9% gain in the number of jobs and had 8 of the 10 cities with the
highest growth in the number of jobs, while Pierce County had a 3.5% gain.
Thousands turn out for opening day of new Tacoma Narrows bridge, Seattle P-I, 7/15/07
"Thousands turned out for opening day festivities at the new Tacoma Narrows Bridge on Sunday as state
transportation crews geared up to open the milelong span to traffic. . . The party started in the morning with a
5K run and walk across the bridge that drew more than 10,000 participants. . . The deck later opened to
pedestrians who were invited to stroll across before it was to open to traffic early Monday morning."
Tack another 2 cents onto gas, The News Tribune, 7/16/07
"The third installment of a phased-in hike in the state gas tax will take effect Sunday, when the tax rises by 2
cents a gallon. The fourth and final installment will be a 1.5-cent increase on July 1, 2008, completing the 9.5-
cent increase approved by the Legislature in 2005. Combined with vehicle fee increases and a 5-cent gas tax
increase that took effect in 2003, the most recent gas tax will raise enough money to pay for about $13 billion
on 432 transportation improvement projects through 2021."
State says wages rose faster than inflation last year, PSBJ, 7/13/07
"Workers' wages in Washington rose faster than the inflation rate -- more than 5 percent -- according to the
state. The average worker made $42,881 last year, up 5.3 percent from 2005, while the inflation rate last year
was 3.7 percent, according to the state Employment Security Department. . . The latest report breaks down
salaries by county. King County workers earned the highest average annual wage in Washington at $53,482
last year, followed by Snohomish County at $42,906 . . ."
Washington moves up on 'best state for business' list, PSBJ, 7/11/07
Washington is the fifth-best state in the country for business, according to the latest ranking by Forbes
magazine. Washington moved up seven places on this year's list, tying with Tennessee for the biggest leap
of all states. Virginia topped the magazine's rankings, followed by Utah, North Carolina and Texas.
May Unemployment rate inches higher, PSBJ, 6/12/07
"The state unemployment rate rose to 4.6 percent last month from April's 4.4 percent, but state officials said
the rate is still at 'historic lows."' Nationally, the unemployment rate stayed at 4.5 percent in May.
Defunct Steam Plant Going to Port in $7.65 Million Sale, The News Tribune, 6/25/07
"The Port of Tacoma will buy Tacoma Power’s defunct steam plant on the East Blair Peninsula on the
Tideflats. The port plans to pay $7.65 million for the property off Taylor Way." According to the News Tribune,
the site will be used for additional container storage.
Workers, Employers to get Brief Tax Break, Seattle P-I, 6/22/07
"Starting in July, Washington workers and their employers will receive a six-month reprieve from some
workers' compensation insurance premiums -- a move state officials say will save businesses $315
million. During the temporary rate break, employers won't have to pay premiums to the Department of Labor
and Industries Medical Aid Fund, according to a statement issued Thursday by the department." The tax
break lasts until 1st quarter 2008.
Amazon Speculated to Move to South Lake Union Area, PSBJ, 6/22/07
Rumor has it that Amazon is in negotiations to lease as much as 1 million square feet in the up-and-coming
South Lake Union Area.
Despite Heat, Pay at the Top Kept Going Up, Seattle Times, 6/24/07
"The Northwest's top CEOs saw their pay go way up last year, according to a new analysis for The Seattle
Times. More than half of the 20 best-paid CEOs who were in place for both 2005 and 2006 made at least
$4.7 million, a 28 percent increase from the year before."
Clise Family Puts Huge Chunk of Downtown Seattle Land up for Sale, PSBJ, 6/16/07
"A large chunk of the Denny Triangle area in north downtown Seattle has been put up for sale by Seattle's
Clise family, which began buying the properties back in the late 1800s. Spread roughly over seven city blocks,
the 12-acre offering represents the undeveloped land held by Clise Properties Inc. The sales does not
include properties the family has already developed such as 1700 Seventh Ave. With new zoning allowing
taller buildings in the downtown area, as much as 13 million square feet could be built on properties, which
are now largely occupied by surface parking lots."
Retail Sales Up More Than Expected, The News Tribune, 4/16/07
Retail sales increased last month according to The News Tribune article entitled Retail sales up more than
expected; "These sales increased 0.7 percent in March, up from a 0.5 percent gain in February. It was the
best showing since a 1.1 percent rise in December, the Commerce Department reported Monday." Experts
believe better weather and an early Easter brought shoppers out. It was predicted that retail sales would rise
0.8%.
"In another report, the Commerce Department said that businesses boosted their inventories held on
shelves and backlots by 0.3 percent in February, the biggest gain in five months. The increase came after an
extended period when businesses have tried to trim their overhang of unsold items in the face of weaker-
than-expected sales".
Job hiring stronger in the West, The News Tribune, 4/5/07
"The West and the South will have the strongest hiring in the country in the second quarter, according to a
CareerBuilder.com survey released Wednesday.
Thirty-four percent of employers in the West and 31 percent in the South plan to increase their staff levels,
compared to 26 percent in Northeast and 24 percent in the Midwest, the survey reports."
| Brian Bruininks, CCIM is now a Partner at The Andover Company |
We are pleased to announce that Brian Bruininks, CCIM is The Andover Company's newest
partner. Brian joined The Andover Company after more than eight years with two national
commercial real estate firms. Brian has spend the last twelve years leasing and selling
industrial, office and investment properties in the South King County / North Pierce County
area.
His experience and business relationships with owners, tenants and brokers will help The
Andover company continue o serve your real estate needs for years to come.
Click here to read the entire press release.
partner. Brian joined The Andover Company after more than eight years with two national
commercial real estate firms. Brian has spend the last twelve years leasing and selling
industrial, office and investment properties in the South King County / North Pierce County
area.
His experience and business relationships with owners, tenants and brokers will help The
Andover company continue o serve your real estate needs for years to come.
Click here to read the entire press release.
Algona II
58,407 SF for Lease
Distribution Center centrally
located at the crossroads of
Highway 18 and Highway 167.
Heavy power, generous parking
and perimeter security fence.
Space as 5,650 SF of office,
14,873 SF of freezer and 10,819
SF of cooler space (that can be
removed to accommodate a
future tenant).
Click here for the Algona II Flyer
58,407 SF for Lease
Distribution Center centrally
located at the crossroads of
Highway 18 and Highway 167.
Heavy power, generous parking
and perimeter security fence.
Space as 5,650 SF of office,
14,873 SF of freezer and 10,819
SF of cooler space (that can be
removed to accommodate a
future tenant).
Click here for the Algona II Flyer
