FEATURED PROPERTIES

Gridiron Condos

For Sale - Gridiron Condos
589 1st Ave S
Seattle WA 98104
$ 5,250,000

Asset Class: Multi-Family
Total Bldg SF: 185,614
Total Land SF: 17,158

Contact: Damian Sevilla
Kidder Mathews

ESSENTIAL CRE TOOLS TO HELP YOU MAXIMIZE YOUR SUCCESS


The Commercial Brokers Association (CBA) is a powerful association of commercial real estate brokers dedicated to developing the knowledge and skills of our members, increasing their success, and raising the standard of practice. Our member-owned cooperative provides market research, listings services, legal contracts, networking and education opportunities, association management services, industry lobbying, and arbitration to brokers and professionals in CRE-associated industries in the Pacific Northwest.

Our membership includes top commercial real estate influencers and companies in the regions we serve.

Brokerage Firms | Brokers | Appraisers | Affiliate CRE Organizations

 


4,600+

 

Broker and Affiliate Members and Growing 

125,000+

 

Researched Commercial Property Records in Washington & Idaho

 13,000+

 

Active Listings in Washington and Idaho

 

34,000+

 

Sale comparable records (CBAcmas) gathered over 20 years in King, Pierce, Snohomish, Thurston, Kitsap, & Spokane counties

1,300+

 

Member Firms and Offices Represented

 

100+

 

Standard Contracts and Forms Available with Membership


 

OUR SERVICES

 

Research & Listings

Legal Library PRO

Education & Events

Member Network

Member Rules

CBAcma

Association Management

Arbitration

 

JOIN NOW

 

We welcome the opportunity to discuss how CBA's services can benefit you.  

Please feel free to call CBA's Member Services at 425-820-3348 or 1-800-275-2522 for additional information.

 

MEMBER NEWS

GOVERNOR INSLEE ISSUES GUIDANCE FOR COMMERCIAL REAL ESTATE IN PHASE 2

As the state of Washington enters the next phase of the COVID-19 pandemic, Governor Inslee has issued an order easing some restrictions on the commercial real estate brokerage industry for counties that have been granted Phase 2 status.

 

On May 19, 2020, Governor Inslee announced additional counties in Washington are eligible to apply for Phase 2 reopening status. The Governor has also approved and released new, limited activities and safety protocols for commercial real estate practitioners for listings in counties that have been granted Phase 2 status.  

 

We thank the Governor for his guidance and for understanding that the commercial real estate brokerage industry is vital to our state’s economic recovery. Our members’ professional ability and expertise in advising Washington’s businesses (for tenants both large and small) and commercial landlords will be integral to the implementation of the next phase.

In partnership with our legal counsel and the Washington REALTORS, we have updated our series of Commercial Real Estate Practitioner FAQ’s based upon the newly released guidelines for Phase 2 counties.

 

If you are a CRE broker working on a listing located within a Phase 2 county, please review the NEW information

outlining the counties currently granted Phase 2 status, and the strict measures that must be adhered to by real estate professionals in order to ensure the safety and well being of those involved in your property showing.

 

If you are a CRE broker working on a listing located within a Phase 1 county, please review the PREVIOUSLY PUBLISHED FAQ information, which is still relevant.

VIEW OUR PHASE 2 FAQS NOW

 

NEW! EXCLUSIVE SUBLEASE AGREEMENT ADDED TO LEGAL LIBRARY PRO

In response to our rapidly changing commercial real estate market and in anticipation of shifting member needs, we've added an Exclusive Sublease Agreement to Legal Library PRO.

 

Developed by top commercial real estate experts, Legal Library PRO's contracts are recognized as the industry standard and are the fastest and easiest way to close a deal.

 

CBA members can instantly access and edit any of Legal Library PRO's 100+ copyrighted contracts and forms for Washington and Idaho. Forms include Purchase and Sale Agreements for Commercial Properties as well as Business Opportunities and Lease Agreements.

 

LOGIN NOW TO ACCESS LEGAL LIBRARY PRO

 

JOIN US FOR OUR FIRST-EVER LIVE WEBINAR CLASS FOR CE CREDIT, MAY 12TH. 

We're pleased to announce that we've received accreditation for our first-ever live webinar class, Advanced Topics in Leasing, taught by retired attorney Mike Garner. Get registered today!

 

ADVANCED TOPICS IN LEASING

Tuesday, May 12th

9:00 a.m. - Noon

 

REGISTER NOW

 

IMPORTANT MEMO – INTERPRETING & OUTLINING OF EVICTION BANS AND RENT FREEZES IN WASHINTON STATE AND CITY OF SEATTLE 

Attached is the memo from CBA’s legal counsel outlining and interpreting two recent COVID-19 items issued by the state of Washington and City of Seattle affecting landlords and tenants.

 

On April 16, 2020, Governor Inslee issued a proclamation extending and expanding the ban on residential evictions, and placed a freeze on rent increases affecting commercial tenants. On April 17, 2020, Mayor Durkan signed into law the City of Seattle’s new ordinance disallowing evictions and rent increases on small businesses and non-profits.

 

 

SPECIAL WEBINAR: LIMITATIONS ON COMMERCIAL TENANCIES IN THE TIME OF COVID-19 WITH HUNTER JEFFERS

If you were not able to join us for the recent webinar regarding the  limitations on commercial tenancies in the state of Washington and City of Seattle and how it might impact you, we have recoded the webinar and have posted it to our COVID-19 resources tab. Click below to watch it now. 

COVID-19 RELIEF UPDATE: WASHINGTON UNEMPLOYMENT BENEFITS NOW AVAILABLE FOR BROKERS/INDEPENDENT CONTRACTORS

Under the federal CARES Act, Washington unemployment benefits are now available for Brokers/Independent Contractors who are impacted by the COVID-19 crisis. 

 

The amount of financial help will vary. If your application is approved, you will be paid at least the minimum weekly benefit amount, and if that amount is at least $1 per week, you will also receive an additional $600 weekly from March 29 to July 25. 

 

CLICK HERE TO LEARN MORE

COVID-19 RELIEF UPDATE: WASHINGTON UNEMPLOYMENT GUIDELINES FOR BROKERS/INDEPENDENT CONTRACTORS

Our friends at Washington REALTORS® recently provided the following important and timely guidance on applying for Unemployment Assistance in Washington state, and we're sharing this valuable information with our members.

CLICK HERE TO READ MORE

IRS EXTENDS TAX DEADLINES: RELIEF FOR 1031 EXCHANGES AND OPPORTUNITY ZONES

On April 9th, the IRS granted deadline relief for both 1031 like-kind exchanges and opportunity zone investments that are already underway. Both of these programs promote economic growth in communities, and the NAR and other CRE advocacy groups successfully argued that investors in these programs should not be harmed due to the effects of COVID-19. Some specifics of the new guidance include:

1031 Like-kind Exchanges: If an investor has taken the first step of a like-kind exchange by selling the old property, and either the 45-day or the 180-day deadline falls between April 1 and July 15, the deadline has been extended to July 15. 

  • Opportunity Zones: If investors who sold a capital asset planned to roll over the gain into an Opportunity Fund and the 180-day deadline to do so falls between April 1 and July 15, 2020, they can make the investment as late as July 15. 

  • Estimated Tax Payments: Sole proprietors who pay quarterly estimated taxes now have until July 15 to file their second-quarter payment. Any individual or corporation that has a quarterly estimated tax payment due on or after April 1, 2020, and before July 15, 2020, can wait until July 15 to make that payment, without penalty. 

CLICK HERE FOR DETAILED GUIDANCE 

NEW COVID- 19 RESOURCES PAGE

To help our members and their clients navigate a rapidly changing and increasingly difficult business climate, we have compiled a list of resources for Brokers, Landlords and Investors, and Commercial Tenants.

IMPORTANT:

Please note that while Governor Inslee's Stay Home, Stay Healthy order is in place, the only CRE practice that can be done is that which can be done REMOTELY. 

CLICK HERE TO VIEW THE PAGE

We will continue to monitor the situation and will update and add to the list as new information becomes available.

CLARIFYING THE STAY AT HOME, STAY HEALTHY ORDER FOR COMMERCIAL REAL ESTATE

We understand how difficult it is right now for you to conduct your business, and there has been confusion by real estate brokers over recent directives issued by the Governor Inslee.

 

In conjunction with our legal counsel, we have compiled a series of Commercial Real Estate

Practitioner FAQ’s related to Washington state’s current “Stay Home Stay Healthy” order that went into effect on Thursday, March 26, 2020 by Governor Inslee.This FAQ also includes clarifications for commercial brokers related to the Governor’s memorandum regarding “Real Estate and Mortgage Guidance” issued on Friday, March 27, 2020.

 

The Governor's memorandum was directed to RESIDENTIAL REAL ESTATE TRANSACTIONS ONLY, NOT COMMERCIAL. We hope this communication helps clarify any questions you have about the orders relative to your business.

If you have any questions in the weeks and months ahead, our Executive Team stands ready to assist you personally at (425) 820-3348.

On behalf of the CBA Board of Directors and our staff, we appreciate your continued support and membership of our organization, and we are committed to being a trusted partner and reliable resource to you throughout the course of this emergency, and beyond. 

CLICK HERE TO VIEW FAQS

Sincere Regards,

Chris McDougall 

President & CEO 

 

NEW FORCE MAJEURE AND CLOSING ADDENDUM TO PURCHASE AND SALE AGREEMENT

The Commercial Brokers Association has published a new addendum to help address issues arising from the COVID-19 pandemic. The form, entitled “FMA Force Majeure 

Addendum,” is posted for use in Legal Library PRO within the Purchase & Sale Forms and is also posted in the List of Contracts. (Note: you must be logged in to the CBA website to view the form.) 

 

It may be used in new transactions as an addendum or existing transactions

as an amendment to provide for remedies in the event either party is prevented from performing in a transaction due to a force majeure.  

 

“Force majeure” is a French term that translates literally as “superior force.” A “force majeure event” is an event or effect that can be neither anticipated nor controlled. Many contracts contain a force majeure clause allocating risk between parties if the contract becomes impossible or impractical to perform in the event of a force majeure. Common examples of force majeure events include acts of nature, such as floods, earthquakes, hurricanes, tornadoes and the like, and acts of people, such as wars, riots or strikes and, of course, an epidemic/pandemic such as the current pandemic.  

 

DISCUSSION 

CBA’s new addendum provides for extensions of contingencies and conditions and the closing date in purchase and sale agreements for a limited amount of time should a force majeure event occur, precluding timely performance. It operates in the same way as the residential addendum recently released for the same purpose by NWMLS.  

 

The addendum provides that, if through no fault of the parties, and by reason of a force majeure event, any contingency or condition in the agreement cannot be timely completed, then all the time periods associated with that contingency or condition (and any related notices and responses thereto) are extended for an amount of time agreed to and stated in the form. 

 

An example may help:  

The parties reach mutual acceptance on March 25, and the buyer has a ten-day inspection/feasibility contingency.

On March 26, a shelter-in-place order goes into effect for two weeks (until April 9) that prevents the selling broker, buyer and inspector from inspecting the property. The parties agree in the addendum that any contingency or condition will be extended for ten days should a force majeure event occur. The original contingency would have expired on Monday, April 6, but the addendum would extend the contingency to April 16, including any related notice and response timeframes.   

 

Obviously, dealing with force majeure events are circumstances unfamiliar to the industry. Calculating the extension of contingency time periods due to a force majeure event may be complicated. Brokers are encouraged to cooperate and work together to ensure that the parties have the same expectations with regard to timelines, and any impact a force majeure event may have. 

The addendum provides that, if through no fault of the parties and by reason of a force majeure event, the sale of the property cannot be timely closed on the Closing Date, the date will be extended for an agreed upon period of time – the “Extended Closing Date.” If the sale of the property cannot be timely closed by the Extended Closing Date, the transaction terminates and the earnest money will be refunded to the buyer.

CONCLUSION

CBA recommends that all brokers working on pending transactions consider amending the transaction with this or an equivalent addendum to address force majeure events. Certainly, brokers entering into new transactions should recommend their clients consider a force majeure addendum. 

If you have any questions, please call us at (425) 820-3348, send us an email, or start an online chat.


IMPORTANT COVID-19 UPDATE:

CBA STAFF WORKING REMOTELY AND ALL CLASSES CANCELED THROUGH APRIL

At the Commercial Brokers Association, we're concerned about the impact of the COVID-19 virus on our staff and our members and have been following the rapidly changing situation closely.

Due to the local impact of the COVID-19 pandemic and our need to keep our employees and their loved ones as safe and as healthy as possible, CBA’s staff will be working remotely until at least Tuesday, April 7th, 2020. We are also canceling ALL classes through April. 

CBA has the technology and phone systems infrastructure to ensure all our services, support, and applications will run smoothly during this time. Our members should not notice any difference in support or interruptions in our services.

We will reschedule canceled classes at a later date if feasible. If you registered for a canceled class, you received a message directly from our Education Manager, Kristin Austin. Please email or call Kristin at 425-952-2739 about options to reschedule, use your credits for a future class, or obtain a refund.

If you have signed up for a class or event through one of our managed associations, please visit the association website directly for updates on their classes and events.

Certified Commercial Investment Member (CCIM) Washington State Chapter

CoreNet Global Washington State Chapter 

Commercial Real Estate Women (CREW) Washington State Chapter 

The Institute of Real Estate Management (IREM) Washington State Chapter 

The Society of Industrial and Office REALTORS® (SIOR) Washington State Chapter 

Washington State Commercial Association of REALTORS® (WSCAR)

For classes and events scheduled after April 30, 2020, please remember to check our full schedule for up-to-date information BEFORE you leave to attend. 

CBA DATA FEATURED IN PSBJ

CBA’s CMA data and analysis on commercial property sales over the past 10+ years was recently featured in the Puget Sound Business Journal's Real Estate section. This underscores the quality of our data and terrific work done by the entire staff. Watch for additional data and analysis from our team in future editions!

The numbers highlighted are for King, Pierce, and Snohomish counties. To see a more in-depth version that also contains Kitsap, Spokane, and Thurston counties, click here

 

DRIVE TRAFFIC TO YOUR LISTING AS A FEATURED PROPERTY 

Featured Properties get front page, above-the-fold promotion on our website, which means they are one of the first things people see and they get increased click-throughs! 

 

We offer one-week and four-week packages. Members who sign up for four weeks can switch out their listings once a week.

 

To sign up, fill out our order form today! 

 

GET YOUR 2020 CBA FLEX PASS NOW!

Ring in the new year by getting a head start -- and saving some cash -- on your 2020 education!

 

Back by popular demand, and exclusively for CBA members, we are continuing to offer our 4-Class Flex-Pass for our live classes. Use it now and throughout 2020 to attend classes that match your interests and career goals.

 

Earn continuing education credits for your biennial license renewal, add to your skills and knowledge, and network with colleagues. Good for 3-hour and 4-hour classes only.

 

$250 CBA Members Only

 

For more details, contact us at register@commercialmls.com or

800-275-2522.

 

GET YOUR FLEX PASS NOW

 

LATEST TRANSACTIONS

For Lease

W 2615 Casino Rd
Everett WA 98204

$ 0.95

Contact: Connor Gilchrist
Broderick Group, Inc.

For Lease

15712 Mill Creek Blvd
Mill Creek WA 98012

$ 1.10

Contact: Tyler Slone
Broderick Group, Inc.

For Lease

S 8051 198th St
Kent WA 98032

$ 0.00

Contact: Bill Condon
Colliers International WA, LLC

For Lease

4336 Roosevelt Way NE
Seattle WA 98105

$ 45.50

Contact: Christian Decker
West Coast Commercial Realty

For Lease

E 15407 Mission Ave
Spokane Valley WA 99037

$ 14.00

Contact: Jon Jeffreys, SIOR
Black Commercial, Inc.

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