Executives at Realogics Sotheby’s International Realty announced today a long-term lease commitment for a 3,875-square-foot retail storefront at 15 Lake Street in downtown Kirkland.

Chad Shriner was appointed as the incoming Kirkland branch manager and will begin Eastside operations immediately ahead of design and construction of the new facility. Set to open this fall, the new retail branch will include an events venue featuring a wine tasting bar with retail wine sales, an art gallery and a residential and resort showroom in addition to collaborative workspaces for its local brokers.

“We’re excited to introduce a new paradigm real estate brokerage at the epicenter of this vibrant, pedestrian-oriented community on the Eastside,” said Dean Jones, the owner of Realogics Sotheby’s International Realty. “We’re thankful for the support of our brand and fellow affiliates, to our brokers that join us and to the city of Kirkland for supporting our collective vision.”

Shriner confirmed he has already begun interviewing select brokers to play an active role in building the corporate culture on the Eastside as Founding Members. A number of broker hires will be announced in the coming weeks, he said.

“I draw upon a family legacy with local industry experience spanning three generations to the 1950s,” says Shriner. “Myself, I’ve had the opportunity to work with several brands, in several states and under numerous business models – as a broker, manager and an owner. Our approach is fresh, our retail concept is unique and the timing is right.”

Shriner points to strong job growth and a quickly rebounding housing market in the metro area with King County median home prices rising 15 percent in July year-over-year, according to the Northwest Multiple Listing Service. At the same time he is monitoring a steep rise in foreign homebuyers, especially on the Eastside where recent Census data reports the city of Bellevue, for instance, now boasts an Asian resident population approaching 30 percent. Accordingly, Shriner and Jones are building referral networks both interstate and internationally in addition to robust local marketing efforts and exclusive global media platforms, such as The Wall Street Journal and Caimieju 采美居.

Executives say the city of Kirkland is also excited about the lease announcement.

“This is a pivotal retail location for the city of Kirkland and we’re thrilled that Realogics Sotheby’s International Realty will anchor the building with an innovative retail and wine tasting venue to complement the lifestyle offerings of our community,” said Ellen Miller-Wolfe, the Economic Development Manager for the city of Kirkland.

The iconic retail building at the nexus of Lake Street and Park Lane is highly visible following a two year renovation under the noted design eye of Tom Kundig of Olson Kundig Architects.

The Sotheby’s International Realty franchise system has been expanding rapidly in recent years despite turbulence in the housing markets. With a focus on expansion into Asia and throughout the Pacific Rim, the global network now comprises more than 38,000 exclusive listings represented by some 13,000 sales associates in 631 branch offices throughout 49 countries and territories around the world. Realogics Sotheby’s International Realty currently operates branch offices in downtown Seattle, Bainbridge Island and plans additional offices on the Eastside.

Each Sotheby’s International Realty franchise is independently owned and operated.

For more information, visit www.RealogicsSothebysRealty.com.