I was appalled to read the article, "High-end Retail Sprouts Up in Bellevue" in the December issue.  In two decades of managing numerous commercial developments and working with journalists who cover such projects I have never experienced such inaccurate reporting and fabrications.

From the first paragraph to the last, that article contains incorrect information and inaccurate comments, as well as a bad attempt to disparage others and attribute it to me.

Several statements in the report are completely erroneous, inappropriate and irresponsible. They seem more suited for a tabloid than a publication that aspires to be a "must-read for Northwest executives." I have already conveyed my inputs to Kemper Freeman, the target of some of the misquotes. Both he and I were mischaracterized in the report and deserve a retraction.

Starting with the first paragraph, the writer mistakenly implies I (or my company for which I am managing investment partner) sold the Civica Office Commons for a record $575 a square foot.   The fact is Civica was sold by InvestCorp International Inc. to Brickman Associates in mid 2006 with SNW having no involvement in the transaction.  Rather, Schnitzer Northwest LLC sold the property in March 2005 for around $462 per square foot to InvestCorp; those buyers, not Schnitzer, subsequently sold it for $575 a square foot.

Asked about that transaction, my comment was in essence, "Ask me why I sold it a year too soon." How the writer interpreted that to be a "coup" is bewildering given that we had nothing to do with the transaction nor derived any benefit. She also refers to Civica as a mixed-use building (it is not - it's essentially two office towers) and she places it on 106th Avenue (it's on 108th Avenue) in Bellevue.

In a subsequent discussion - which a colleague can corroborate since she was at the interview with me - I was asked about the luxury retail market.  I clearly pointed out to your writer that the Eastside and, more importantly, the Puget Sound region can accommodate a maximum of roughly  300,000 square feet of luxury, specialty brand retailers.  Accordingly, additional luxury retail would not likely be realized anywhere else by anyone in the region to the extent such luxury retailers follow the lead of Neiman Marcus (as is typically the case) to The Bravern.    I referenced some of the research for The Bravern and commented on a market's capacity to support multiple luxury retailers, but I did not say, "After me, there won't be room for more luxury retailers."  Finally at Schnitzer Northwest we use the words "we" or "us" and do not use "I" or "me" to publicly or privately describe our successes.  Check people who know us and/or know me or better yet look at previous articles written that include commentary from me and you will find that to be the case.

As was made abundantly clear to your writer, SNW has a fully executed lease agreement with Neiman Marcus for 125,000 SF of our 300,000 SF luxury and specialty retail development at The Bravern.  Also, we provided her with national comparables to confirm the likely luxury retailers that typically locate in close proximity to a Neiman Marcus store anywhere in the U.S. she wanted to consider. 

We provided copies of some of our research, but those summaries clearly do not state Bellevue had more growth "within a 10-mile radius of any regions where Neiman had opened its last five stores."  Instead, those summaries indicate within a 7, 10, 15 and 25 mile radius of The Bravern,  "household incomes" rather than "growth" here are higher than any of five other markets where Neiman Marcus most recently opened stores.