Starbucks Center, Seattle, WA
Starbucks Center is a nationally recognized redevelopment of a large, functionally obsolescent warehouse building, serving as a catalyst for the revitalization of the SODO District neighborhood. At just over 2,100,000 square feet on 17 acres of urban industrial land, Starbucks Center is a one-of-a-kind mixed-used facility, which blends retail, office, warehousing, light-manufacturing and distribution functions. Nitze-Stagen manages the day-to-day operations.
Built in 1912 by the Union Pacific Railroad to lure Sears, Roebuck & Co. to Seattle, the original building was constructed of heavy timbers sourced from the historic Yesler Mill. Emboldened by the sale of lady’s undergarments to Alaska, Sears built an 800,000 square foot addition in 1914 which, at the time of its completion, created the largest structure west of Chicago. In 1925 Sears opened a retail store at the site which, until it closed its doors in 2014, was the oldest continuously operating Sears store in the world. With building additions in 1945, 1956, 1965, 1974 and 2001, the complex is thought to be the largest multi-tenanted building west of the Mississippi.
Nitze-Stagen has renovated the building and preserved its historical heritage while adding modern technology and structural upgrades. It completed a full seismic upgrade of the building in 2003. The building is currently home to numerous tenants, and serves as the world headquarters for the Starbucks Coffee Company.
Union Station Parking, Seattle, WA
Built in 1911, Seattle’s Union Station served as a major gateway to the Puget Sound until its closure in 1971 when the Union Pacific discontinued passenger rail service. Some thirty years later, Nitze-Stagen identified the potential of the languishing historic building and recognized that the building’s restoration could provide the necessary catalyst for a redevelopment project that incorporated multiple adjacent parcels. While the rehabilitation of the Station had long been planned by public agencies, the financial uncertainty, environmental concerns and development complexity of such a project proved too onerous. Recognizing the untapped potential of the site and neighborhood, Nitze-Stagen, along with our Joint Venture Partners, purchased the property and adjacent parcels and then supervised the station’s extensive renovation. Upon completion, the Station was donated to the Central Puget Sound Regional Transit Authority in exchange for reimbursement of the renovation cost.
Located at the junction of three neighborhoods, the Union Station redevelopment project helped to weave the International District, Pioneer Square and SODO Business District together and provided a catalyst for the development of approximately one million square feet of Class A office space on the adjacent parcels. Occupied upon completion by Amazon.com, Vulcan NW, Accenture Consulting, and Sound Transit (among others), this development was the first high-technology urban office campus in one of Seattle’s oldest neighborhoods.
The Union Station renovation was the winner of the 2000 National Historic Preservation Award and continues to serve as the headquarters of Seattle’s Sound Transit while its grand hall is rented to the public for events. Nitze-Stagen retains ownership of more than 1,200 parking stalls on the site.
The Ainsworth & Dunn Warehouse, Seattle, WA
Nitze-Stagen, along with our Joint Venture Partner Meriwether Partners, purchased the Ainsworth & Dunn Warehouse in 2015. Originally built in 1904 to house a cannery operation serving Seattle’s Pier 70 and the waterfront district during the early 1900s, the current structure is comprised of approximately 38,000 square feet on three levels with a total land area of approximately 28,000 square feet.
Recently designated as a historic landmark, the Ainsworth & Dunn Warehouse is constructed of brick and mortar with a load bearing dimensional timber frame. The property occupies a unique and significant place at the north edge of Seattle’s waterfront district adjacent to the Seattle Art Museum Sculpture Park and the Belltown neighborhood and at the end of the Lake to Bay Trail.
We successfully sold our ownership stake in the project to Meriwether Partners in early 2017. Meriwether Partners plans to renovate the historic property and integrate it into a new, mixed-use development that will include a luxury apartment building abutting the south edge of the building. Site planning for the development is ongoing, with redevelopment of the property scheduled to commence in 2017.