Our History
More than 27 years of exceeding real estate expectations
Schnitzer West was co-founded in 1997 by Dan Ivanoff as the then managing operating partner, and by its then capital funding partner, Schnitzer Investment Corp (now MMGL Hold Co LLC) under the continued leadership of its CEO Ken Novack. A ‘Cowboy Family’ from day one, the team set out to build an undeniably strong, resilient, and financially impressive commercial real estate investment and management firm specializing in high-rise, low-rise and suburban offices, for rent multifamily and industrial real estate assets.
Today, Dan Ivanoff and Ken Novack co-chair the SW RE Funds Investment Committee together, and Schnitzer West is now directed day to day by its highly entrepreneurial and experienced Management Team to continuously advance Schnitzer West’s cumulative achievements to far beyond what Dan and Ken originally visualized for Schnitzer West’s expectations of success.
April 1997
Schnitzer West is formed as a partnership between Dan Ivanoff and Schnitzer Investment Corp.
2001
Schnitzer West opens its first urban ground-up development in Bellevue, WA – Civica Office Commons. This is later sold for the then-record per square foot price.
2008
Schnitzer West enters into the Denver market, buying its first asset, First Avenue Plaza.
2010
Schnitzer West completes the final phase of The Bravern Office Commons, a 1.5M SF mixed-use office, luxury retail and multifamily residential project in the Bellevue CBD.
2014
Schnitzer West forms its first commercial real estate investment fund, SW Fund I.
2017
Schnitzer West completes its first urban ground-up development in Denver – Civica Cherry Creek. This is later sold for the then-record square foot price.
2021
Schnitzer West breaks ground on 850K RSF of office development – The Artise (610K SF in Bellevue CBD, fully pre-leased to Amazon) and The Current (240K SF in RINO, Denver).
1997
Schnitzer West acquires Schnitzer North Creek, a then 415K SF office/tech campus. Schnitzer West develops an additional 1.1M SF in 19 buildings.
2007
Schnitzer West fully preleases The Bravern Office Commons (750K SF) and Advanta Office Commons (600K SF) to Microsoft on the same day.
2010
Schnitzer West develops and is 50% equity partner in the original South Lake Union Amazon campus.
2013
Schnitzer West sells Schnitzer North Creek to Grosvenor Americas; retains management for 10+ years.
2016
Schnitzer West completes Urban Union (290K SF – South Lake Union) and Centre 425 (360K SF – Bellevue CBD), both fully preleased to Amazon. Both are later sold for the then-record per square foot price.
2018
Schnitzer West forms its second commercial real estate investment fund, SW Fund II.
2022
Schnitzer West sells Madison Centre, a 750K SF Seattle CBD super core asset, and the final asset sold in Fund I. At time of sale, it was the largest multi-tenant sale on record in the US.
by the numbers
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