Renton hotel sells for nearly $38M

JDA News
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Originally published on www.djc.com, by Journal Staff

RENTON — A fairly new Residence Inn by Marriott, at 1200 Lake Washington Blvd. N. in Renton, sold for over $36.7 million, according to King County records.

The seller was RI Renton Property LP, associated with Texas Western Hospitality, which acquired the land in 2014 for $1.5 million, then developed it. The buyer was M2 Renton LLC, associated with MCR hotels of Dallas. Brokers were not announced. The deal was worth about $251,644 per room key.

Completed circa 2019, the five-story building has 146 rooms and 147 mostly structured parking stalls. It was designed by Jensen Fey (now Jensen Design Architects) and built by EBCO. The hotel is one of two right next to Southport, which also has its own hotel, on the south end of Lake Washington. All are next to Gene Coulon Memorial Beach Park.

MCR appear to be new to the Pacific Northwest. It lists 110 hotels in 33 states, operating under different brands. Some are owned by via REITs. It values its approximately 15,000-room portfolio at about $4 billion.

Adios Azteca

JDA News, Projects
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Well, it has been a good run for the Azteca Restaurant that was located on 148th and 520 in Redmond. I lived across the street from this restaurant for 20 years but it’s time has come. It is now torn down and the site is now ready for a beautiful new multi-family building, Redmond 148, that will be up and running in about 18 months. The photos show the demolished restaurant and a rendering of the new apartment building.

Recent Community Service Projects

JDA News, Team
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Every year, Jensen Design Architects participates in community service or pro bono projects. These projects are not only fun but inspiring. Over the years, our community service projects have included working on an orphanage in Tijuana, Mexico, a Catholic church in New Orleans (about 9 months after hurricane Katrina), several churches around Seattle and attending the Community Enhancement project for NAIOP. Last year we helped the YMCA in Preston, Washington. In this photo, I am working with Touchstone and Mortenson Construction to help build a fence (yes – power tools!) We look forward to the next NAIOP Community Enhancement project coming up on September 24th at New Start High School and Salmon Creek Campus in south Seattle.

Working with Robert A. M. Stern, One of the Top US Architects

JDA News, Projects, Team
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One of the highlights of my career was working with Robert A. M. Stern, one of the top US architects. I had admired his work for many years and so it was with great pleasure when our firm was selected to collaborate with RAMSA (as his firm is called) on a monster project called the Resort at the Meadowlands, located in New Jersey, directly across the Hudson River from New York City.

Jensen Design Architects Night at the Mariners

JDA News
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Jensen Design Architects invited some clients and friends to the Root Sports Suite at the Mariner game on May 15th, Kyle Seeger bobble head night. Even though the M’s eventually lost the game in the 9th inning, we had a great time watching from some of the best seats in the house. JDA acquired the suite as an auction winner supporting the Redmond High School girl’s golf team.  We hope to do this great event again next year.

Weekly Blog from Jensen Fey

JDA News
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Well, it’s been close to 10 years since we touched our website and finally, after much hesitation, delay and procrastination, we are launching a brand new website. I hope you all find this interesting and I would like to hear back on your thoughts.

When I started the firm in 1995 with just myself and my wife, I had no idea what a ride this would be. In 1998, my wife left the firm to pursue a development career and Dave Fey joined the firm. In the 21 years that we have been in existence, we truly have had our ups and downs. With over 200 hotels under our belt we, like most architectural firms, rode the waves of the real estate industry and the economy. None was harder than the great recession of 2009. Somehow we hung on and we are now as busy as we were in 2007, with a staff of 25, an Interior Design firm, and some very interesting work. I am hoping our new web site shows off the exciting work that we have completed and that we are currently doing. We are all very excited to see the completion of one of our more challenging and yet exciting projects, the Seattle Thompson Hotel and Residences. We will have more on this later on.

We will also be diligent about updating our blog with thoughts on what we are doing, what is affecting our industry and just plain simple thoughts that may be of interest.

Thanks to all of our clients, consultants and friends for an exciting 21 years.

Kurt Jensen

Principal