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Puget Sound Business Journal
Selig confirms downtown Seattle lease with Indian consulate
The Consulate General of India has leased two floors in the downtown Seattle Federal Reserve Building, Martin Selig Real Estate said Wednesday.<\p> The announcement follows a Business Journal report earlier this month that the consulate had obtained a permit to make improvements to space in the building at 1015 Second Ave. The consul general, Parkesh Gupta, declined to comment at the time.<\p>
Seattle jail faces capacity problem as frustration mounts in downtown
Seattle residents and business owners Tuesday shared horror stories of crime and implored members of the City Council's Public Safety Committee to take immediate, tangible action to address what they said is increasing drug activity and other crime downtown.<\p> Whether the city has the capacity or ability to book offenders is a point of contention, however. <\p>
Kirkland company raises $196M for wearable defibrillator
Kirkland-based wearable defibrillator company Kestra Medical Technologies has raised $196 million.<\p> With the funding, announced Wednesday, the company said it is looking to expand its commercialization efforts. According to a news release, health care providers have prescribed Kestra's technology to more than 10,000 patients. <\p>
Get a sneak peek of Alaska's new lounge at San Francisco's airport
Alaska Airlines will open its new Alaska Lounge Wednesday in Harvey Milk Terminal 1 as the final step in its move from Terminal 2 at San Francisco International Airport.<\p> The 11,000 square-foot lounge is slightly larger than its former lounge in Terminal 2, but an improved layout means the new lounge will have 55% more seating. Most seating includes nearby power outlets.<\p>
Bordeaux-themed restaurant to open at U Village
An acclaimed Washington winery is coming to Seattle's University Village shopping center. <\p> Woodinville-based DeLille Cellars will take over the former Amazon Books space at 4601 26th Ave. NE, where it will open a Bordeaux-inspired restaurant, bar and tasting room. <\p>
First Mode layoffs expected to affect up to half of its employees
Seattle-based clean energy company First Mode on Tuesday confirmed it expects to lay off employees starting the week of Aug. 5.<\p> A First Mode spokesperson said the layoffs could impact up to 50% of its employees. The company has 258 employees globally, including 166 in the state of Washington between Seattle and its testing site in Centralia. <\p>
Flying Fish Partners looks to raise nine-figure venture fund
Seattle-based venture capital firm Flying Fish Partners is looking to raise a $100 million fund, according to a Friday filing with the Securities and Exchange Commission.<\p> The fund would be the third for Flying Fish. The firm raised a $70 million fund, its second, in May 2022.<\p>
Barnes & Noble plans return to downtown Bellevue
Barnes & Noble appears to be planning a return to downtown Bellevue.<\p> The nation's largest brick-and-mortar bookseller has filed plans with the city to open a store at Bellevue Square, two years after closing its longtime downtown store. <\p>
Boeing piles up orders during first day of Farnborough Air Show
Korean Air's announcement of an intent to purchase at least 40 Boeing widebody airplanes was the highlight of a busy Monday at the Farnborough Air Show.<\p> Korean Air said it would order 20 777-9s and 20 787-10s, Boeing's biggest variant in the Dreamliner series. The airline said it also holds an option for 10 more Dreamliners worth roughly $3.5 billion. <\p>
Seattle pizzeria chain to open fifth location
A family-owned pizzeria is setting up shop in Seattle's Eastlake neighborhood. <\p> Mioposto is preparing to fill 2,250 square feet at the base of the Liza apartments at 2501 Eastlake Ave. E. The expansion marks the chain's fifth location in the Seattle area. The new location scheduled to open in early 2025. <\p>
Country clubs are getting younger. Not everyone is happy about it.
Pine Tree Country Club general manager Andrew Smith isn’t sweating the dress code.<\p> The Birmingham, Alabama, club has relaxed its clothing rules since its founding in 1968, when it debuted as the result of a merger between two private clubs. Since then, the focus at the club has been on creating a fun, friendly atmosphere where people can meet — and membership has grown as a result.<\p>
Luxury homebuilder acquires large property in Bellevue
High-end homebuilder Murray Franklyn last week acquired a 12.8-acre, single-family property south of Bellevue Golf Club for $14.5 million, public records show.<\p> The price is around 50% of the assessed valuation. Seller Bluesun Land LLC had acquired the site for $6.9 million in early 2020. State records list Boyang Wang as governor of the LLC.<\p>
Seattle sandwich chain to close all but 2 locations
Seattle-based fast-casual sandwich chain Homegrown will close all but two of its restaurants this fall. The company cited an "unsustainable model" in its decision to pursue the closures.<\p> On Sept. 15, Homegrown will shutter 10 locations, leaving remaining stores in downtown Seattle and Mercer Island, plus its catering arm. Layoffs will affect 158 employees, according to a Worker Adjustment and Retraining Notification filed with the state of Washington.<\p>
Seattle's LevelTen eyes hiring spree after latest funding round
Seattle-based renewable energy marketplace LevelTen Energy is looking to grow on the heels of the $65 million Series D round it raised July 16.<\p> According to LevelTen Chief Financial Officer Ross Trenary, the company has about 130 employees but aims to have close to 200 a year from now. A little more than half of LevelTen's employees are based in the Seattle area. <\p>
IRS ERC moratorium could cost the agency billions
Efforts by the Internal Revenue Service to crack down on Employee Retention Credit fraud could cost the agency billions of dollars in interest payments.<\p> The IRS in an announcement in June said it had taken the time since its Sept. 14 moratorium on processing new ERC applications to analyze the more than 1 million ERC claims filed in 2023. Through that analysis, it found that between 60% and 70% of the applications showed an unacceptable level of risk.<\p>
Seattle native comes home to help lead huge civic project
Joy Shigaki is a fourth-generation Seattleite who, after leaving, became a national leader in helping fund and deliver civic projects like major parks.<\p> She returned to Seattle two years ago to lead Friends of Waterfront Park, the not-for-profit responsible for fundraising and programming the 20-acre park that’s heading toward completion next year after more than 10 years of construction.<\p>
Seattle biotech to double its space in Eastlake after move
Seattle-based biotechnology company Bonum Therapeutics in August will double its current space as it looks to expand its team.<\p> The company is moving from 1616 Eastlake Ave. E. to a 31,000-square-foot space a few blocks away at 1150 Eastlake Ave. E. in Seattle's Eastlake neighborhood.<\p>
How Mukilteo aerospace firm capitalized on evolving industry
Peter Zieve, the founder and CEO of Electroimpact, spends most days hunched at his desk in an open-floor office surrounded by engineers toiling away on numerical calculations in silence.<\p> The aerospace company’s policy is not to interfere with any of the work the engineers do, including Zieve himself. That hasn’t changed in the 38 years since Zieve launched the company out of a garage at Blakeley Street in Seattle.<\p>
Seattle company buys Bellevue site for hotel project
A medical building property near Overlake Medical Center in Bellevue is slated for redevelopment, new owner Kauri Investments said Thursday.<\p> Seattle-based Kauri bought the Eye Clinic of Bellevue/Overlake Optical property, located at 1300 116th Ave. NE. King County this week posted an affidavit showing Kauri acquired the 0.6-acre site for $6.75 million.<\p>
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