Perkins Coie is, and has been, for a number of years exclusive project counsel for the developer of a multi-billion-dollar project located in Bellevue, Washington known as “The Bellevue Collection.”

The Bellevue Collection is comprised of a mixed-use, ground-up development project generally known as Bellevue Square, Bellevue Place, Lincoln Square, and Lincoln Square Expansion. These projects include a premier enclosed mall shopping center (Bellevue Square), 3 high-rise office towers, 3 high-rise hotels, a residential apartment tower, residential condominium, and multiple underground garages.

The Perkins Coie team has handled all aspects of the projects at the Bellevue Collection from property acquisition; land use and entitlement matters; initial infrastructure financing; ownership entity formation and structuring; construction and design contracting; commercial condominium work; commercial, retail and residential leasing; hotel operating agreement negotiations; marketing legal advice; third-party private equity investments; joint venture formation; a major project construction-to-permanent-financing transaction; security; and, financing transactions for each project component.

Perkins Coie is outside counsel for SSA Marine Terminals in a number of high-value deals in Washington and further afield.

These deals include:

• Lead counsel to Stevedoring Services of America Terminals (SSAT) in the $500M redevelopment of Terminal 5 at the Port of Seattle. The transaction includes the restoration of the Intermodal Yard, agreement with BNSF, and the installation of four new ship to shore cranes capable of handling the world’s largest container ship.
• Representation of SSA Marine in the amendment and restatement of its Port Lease at Terminal 18. Terminal 18 is currently the most active container terminal at the Port of Seattle.
• Representation of SSA Terminals regarding the maintenance and replacement of certain substations on Terminal 30 at the Port of Seattle.

Perkins Coie has advised Oak View Group regarding the environmental assessment, permitting, municipal agreements, and public outreach related to its plans to develop a world-class arena suitable for NHL, NBA, WNBA, and major concert events. This is one of the largest arena projects that is fully privately financed.

Our work has allowed Seattle to secure a National Hockey League (NHL) franchise. It will also preserve and revitalize a landmark structure, dating back to the Seattle World’s Fair, that is a major public asset. Seattle Center is the fourth-largest visitor destination in the United States, attracting 12 million visitors each year to its 74-acre campus. The arena is the first net zero carbon certified arena in the world and has been named “Climate Pledge Arena.”

This representation follows our representation of the Seattle Mariners in the design, construction and development of T-Mobile Park (f/k/a Safeco Field), the Seattle Symphony in the design, construction and development of Benaroya Hall in downtown Seattle, Vulcan for portions of CenturyLink Field, and the public facility district developing the Everett Events Center for minor league hockey in Everett, Washington.

Perkins Coie represents the University of Washington in the leasing within its 10-acre Metropolitan Tract in downtown Seattle.

Over the term of our ongoing representation, our team has completed:

• A ground lease for 400 University, a 10-story mixed use office building to be constructed adjacent to the Rainier Square Tower, a 58-story mixed used building.
• A new lease in the completed Rainier Square Tower for Suit Supply.
• A 56- year lease extension for the Fairmont Hotel
• Amendments to the 5th Avenue Theatre Lease which has been in its space since the 1920’s.

Perkins Coie represents DevCo in development, financing and refinancing of affordable housing in Washington and Oregon.

Our team has coordinated three stand-alone bond financed low-income housing tax credit transactions for DevCo, most recently a project called Solera in Renton, WA, that includes 315 market rate apartments and 275 affordable apartments.

Solera is the first project to be partly financed by the Evergreen Housing Impact Fund, a collaboration of Seattle Foundation and five credit unions: BECU, Salal, Sound, Verity and WSECU. We coordinated all borrower’s development efforts, including structuring and financing the transaction.

Perkins Coie is counsel to the Cruise Ship Industry Leaders group which is seeking to lease and redevelop a portion of Terminal 46 at the Port of Seattle. The group is comprised of Royal Caribbean, Carnival, MSC and SSA Marine. The project would include the construction of a large cruise ship hangar and redevelopment of the dock to support the Alaska cruise ship trade. In addition, other year-round buildings and amenities will be constructed.

Perkins Coie represented The Baseball Club of Seattle, d/b/a the Seattle Mariners, in all aspects of its recent long-term lease with the public facilities district that owns and manages T-Mobile Park (f/k/a Safeco Field), the 48,000 seat home to the Seattle Mariners. This highly public lease negotiation, which garnered significant attention in the local press, will allow the Mariners to stay in the City of Seattle for many years.

Perkins Coie represented ground lessor 2nd Avenue Real Estate Investments LLC in the sale of Seattle's 2+U office tower to Hana Alternative Asset Management and Hana Financial Group.

This was the largest single-property real estate transaction in the U.S. since the beginning of the pandemic. Skanska, which owns 2nd Avenue Real Estate Investments LLC, sold the tower for $704 million, with Hana purchasing a 95% stake in the project for approximately $669 million. Skanska retained a stake in the project and will continue to be involved in the completion of the retail vision and ground plane. The 38 story tower features an office space, as well as an “urban village," with retail businesses, restaurants, and nearly a half-acre of open space.

Perkins Coie served as lead counsel to a global consumer goods company in negotiating a 20-year lease extension for 1.3 million square feet for its corporate headquarters in Seattle, Washington. The renegotiated lease will continue for at least 20 years with three renewal options of 7.5 years each. The deal includes $65.5 million from the landlord in improvement allowances for future building enhancements projects.

Perkins Coie represented F5 Networks in leasing new corporate headquarters in Seattle, Washington. The new Class A office building, developed by Daniels Real Estate and Stockbridge Capital Group, will be called F5 Tower. F5 Networks leased the entire 516,000 square feet of office space in the 44-story building.

Perkins Coie attorneys provide clients with comprehensive services encompassing the full range of industrial and commercial real estate, development, and environmental issues.

Some recent examples of our team’s work include:

• Representing Cadman Materials on a series of gravel pit operations that have been converted to industrial office parks, including Mountain View Centre in Everett and the Columbia Technology Center in Vancouver, Washington.
• Representing Pacific International Holding LLC on the development and sale of its 1,100-acre site at Cherry Point, Washington, zoned heavy industrial.
• Represented Stevedoring Services of America Terminals (SSAT) and Terminal International Limited (TIL Group) in a 32- year port lease with Northwest Seaport Alliance. The new 32-year lease with these two terminal operators is at Terminal 5 at the Port of Seattle. The transaction includes approximately $300 million in redevelopment costs.
• Representing a real estate owner in the ground leasing of a 250+ acre mixed-use and industrial development that has recently gone to market, as well as with complex industrial ground leases in Auburn and Kent, Washington. As part of this project we prepared complex covenants, conditions, and restrictions for the common areas related to these projects.
• Represented the Port of Everett on various industrial leases within the Port. Our representation included negotiation of purchase and sale agreements, sale of one parcel for the development of an apartment/condo tower, and ground leasing parcels for the development of standalone retail and a hotel. We also represented the Port in its industrial leasing to the commercial tenants (ship repairs, dry docks, warehouse, brewery, manufacturing) and its general operations in negotiating shared-use agreements and CC&Rs in connection with the mixed-use component of the Port’s operations.