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Kirkland marina, Home Port building sold for $28 million BY TJ MARTINELL tmartinell@kirklandreporter.com
T
he Homeport Building and Marina in downtown Kirkland has been sold to Bellevuebased PMF Investments
for $28 million. The marina, located at 135 Lake Street in Kirkland, was previously owned by Westwater Development, owners and developers of waterfront commercial space. They
were represented by Kidder Mathews commercial real estate brokers, Jason Rosauer, Andy Miller and Rob Anderson. “This asset is among a rare grouping in our state,” Rosauer said. “Location,
quality of construction, tenant stability, and the fee simple waterfront aspect are nearly impossible to replicate today. This sale represents an opportunity for both buyer and seller to successfully meet
investment objectives, the overall goal in every transaction.” The new owner, PMF Investments, is a Pacific Northwest developer, owner, and manager of commercial real estate
properties that also owns the Kelsey Creek Center in Bellevue. “The sale of the Homeport Building represents a record setting cap rate and price per square foot,” [ more MARINA page 2 ]
Kirkland residents start PAC for ARC
Aquatics center would be paid for using a metropolitan park district MPD is a junior taxing district that would provide funding for the Local residents have construction and mainteformed a political action nance of the ARC. Under committee (PAC) to prothe proposed ordinance, mote the Kirkland City the MPD’s boundaries Council-apwould be the city “The facility on proved ballot limits, and the a whole is about measure for a council would act creating a healthy as the governing metropolitan park district vibrant community body. Although (MPD)to fund that has access to the Prop 1 and the Aquatic type of programming the ARC aren’t and Recreand fitness activities confined solely ational Comthat this facility to the creation munity Center would provide. It of an aquatics (ARC). The would also be a public center, it’s what’s PAC, Yes on facility, as opposed to driving many Prop 1, Build a private health club.” of the measure’s the ARC, will supporters, such Rob Martin be holding as Rob Martin, a an upcoming spokesperson for kickoff event the Yes on Prop 1 from 5:30-7:30 PAC. Like many p.m. on Wednesday, Sept. aquatics enthusiasts, 16 at the Wilde Rover Martin first got involved in downtown Kirkland. in efforts for a new The PAC is pushing for aquatics center when the the passage of ProposiLake Washington School tion 1, which if approved District announced that by the majority of voters it would not be replacing this November would the Juanita High School create an MPD called the pool when they eventuKirkland Aquatics and [ more ARC page 10 ] Recreation District. An BY TJ MARTINELL
tmartinell@kirklandreporter.com
A pirate’s life for me Reporter TJ Martinell took a trip on the Lady Washington tall ship while it was in Kirkland during the first weekend of September. Above and left, the Lady Washington, along with the Hawaiian Chieftain engaged in a mock battle on Lake Washington while local kids looked on from the decks. To read about Martinell’s experience aboard the tall ship see Opinion on page 4. TJ MARTINELL, Kirkland Reporter
DennyFest takes place this weekend BY TJ MARTINELL tmartinell@kirklandreporter.com
Finn Hill residents are set to celebrate the end of
the summer with their annual DennyFest, featuring a professional BBQ grill and live performances by local Kirkland artists.
Finn Hill’s annual neighborhood festival will be held noon to 4 p.m. on Sunday in O.O. Denny Park near the Clayton Rich
Memorial Shelter. The festival is free to all and offers food and drinks, along with their popular chili and pie contests, arts and crafts, a bouncy house for the kids, and an informal [ more DENNY page 5 ]
Just listed $550,000 Juanita Caliber Home Loans, Inc., NMLS 15622
Casey Oiness, Loan Officer NMLS#265169 425.250.4421 Keller Williams GSWA MC1 LLC 11255 Kirkland Way, Suite 100 • Kirkland 505 106th Ave NE, Suite 210 • Bellevue 4BR 1.75BA 1,740sqft www.CaseyOiness.com
1396368
Freddy Delgadillo, Principal – Broker 425.941.8688 • JudahRealty.com