Wednesday, September 16, 2009

Viaduct - Tunnel Boring Machine Animation

The DJC has an interesting video from WSDOT this morning highlighting how the tunnel boring machine will look and work.

Thursday, September 10, 2009

WAMU Center sold for $115,000,000

Hot off the press - Eric Pryne with the Seattle Times reports that WAMU Center sold for $115,000,000. Compare this to the $300,000,000 assessed value of the building, (which likely cost much more than that to build) and its clear that Russell (owned by Northwestern Mutual) just secured a very nice deal! Note that this works out to approximately $133 PSF.

Read More On The Transaction Here

Wednesday, September 9, 2009

Russell Moving to Seattle

Huge news announced this morning - Russell Investments is moving to Seattle. As rumored, Northwestern Mutual Life will purchase the building for an undisclosed amount, and Russell will begin moving in 2010.

Russell Investments manages over $151 Billion in assets, and is famous for its Russell indexes, a collection of global equity indices. Approximately 900 Russell employees are currently headquartered in Tacoma.

The tower, once known as WAMU Center and more recently as Chase Renter, will be renamed to Russell Investments Center.

Tuesday, September 8, 2009

Hard Rock Cafe - Las Vegas

Hard Rock Cafe opened its latest and greatest venture in Las Vegas this weekend, Hard Rock Cafe Las Vegas. Though roughly 3 times bigger than the forthcoming Seattle location, the two will allegedly share many similarities in terms of technology and finishes.

Click Here to Watch a News Clip of the Grand Opening on Fox 5 Vegas.

Thursday, September 3, 2009

WAMU Tower Ready to Trade?

There are a lot of whispers floating around lately regarding the future of Russell Investments (currently based out of Tacoma, WA). Related to this are rumors regarding the future of Chase Center (formerly WAMU Center).

The Seattle Times summarized the relationship between these two hot topics this morning in an article titled "Russell narrows headquarters search to two sites in Tacoma and Seattle".

Russell has narrowed its search down to two locations; Seattle's Chase Center, or a new Tacoma sky scraper proposed by German billionaire Erivan Haub.

Another related whisper on the street has been that Northwestern Mutual may purchase Chase Center (and probably at a very low basis given market conditions and terms of JP Morgan's initial acquisition) - as Northwestern Mutual acquired Russell back in 1999, one can logically deduce that they would place Russell into Chase Center.

Whichever you believe, we will know more by the end of September; this is reportedly when Russell shall make the big announcement.