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Marc Stiles
Puget Sound Business Journal|www.bizjournals.com/seattle

Two Seattle commercial real estate professionals said that Amazon.com is leasing 635 Elliott, a Seattle waterfront office building that has been vacant since it opened four years ago.

Amazon spokesman Ty Rogers said he had “nothing to share on this,” and 635 Elliott developer Martin Selig did not return calls.

Commercial real estate expert Kip Spencer said that based on his sources, he is “99.9 percent” sure that Amazon is leasing 635 Elliott, a nearly 196,000-square-foot building. Spencer previously worked at Mortenson Construction and recently joined the executive team at Pacific Lighting Systems.

The other real estate professional who gave the same information declined to speak for attribution. He said that if Selig and Amazon haven’t yet signed a lease, “they are very close” to doing so. read more »

 

The Northwest Multiple Listing Service reported 75,517 closed sales of residential real estate during 2013, surpassing the 2012 volume by around 11,000 transactions for an increase of nearly 17 percent.

Measured by dollars, last year’s sales of single-family homes and condominiums were valued at nearly $25.5 billion, which outpaced the previous year by more than $5.5 billion. That’s an increase of more than 27 percent.

Total units and dollar volume are both at the highest levels since 2007, when the service’s real estate broker members registered 82,197 sales valued at $32.3 billion. read more »

 

New Seattle Mayor Ed Murray on Friday issued an executive order to raise the minimum wage for all city employees to $15 an hour, saying he wants to move quickly.

“This is the first step in a bigger picture to make this the minimum wage citywide,” Murray said in a prepared statement.

There are many questions to be answered, including how many employees would get a raise, how much it will cost the city and when workers might get raises. Murray said the wage hike could be made retroactive to the start of 2014. read more »

 
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