City of Seattle Municipal Tower Acquisition
|
Seattle, WA
- One of the tallest municipal buildings in US
- Consolidated municipal offices into single facility
- Negotiated purchase in competitive investment market
- Delivered $90M-$100M in cost savings to the City
1M SF
1996
Challenge
Meeting the City’s long-term space needs required evaluating whether to build new facilities or acquire an existing asset. The scale of consolidation introduced planning and operational considerations across multiple departments. Competition from private investors added pressure during negotiations. Public perception around the City’s ability to secure the property further complicated the process.
Solution
We led master planning, due diligence, and financial analysis to evaluate development alternatives and guide decision-making. Our team worked closely with City leadership to demonstrate the value of acquisition over new construction. In partnership with Kinzer Real Estate Services, we managed negotiations in a highly competitive market. Strategic positioning and clear financial justification supported a successful transaction.
Outcome & Impact
The acquisition of Seattle Municipal Tower enabled the City to consolidate the majority of its office functions into a single location. The decision avoided the cost and complexity of new construction while delivering significant financial savings. Centralized operations improved efficiency across departments. The City secured a long-term asset that continues to support municipal services and growth.
Image Gallery
Project Partners
Kinzer Partners
Brokerage
“I’m very proud of each of you who played such a pivotal role in the purchase of Key Tower, not just for skill and patience you exhibited throughout the negotiation process, but for the $90 million you helped the City save over the next thirty years…the negotiations were terribly long, intense and complex, but we had a great team, and the final results reflect well on just how great you were.”
Norman B. Rice, Former Mayor
Similar Projects
Strengthening civic infrastructure requires more than delivering buildings. These projects helped public organizations create spaces that improve service delivery, support employees, and enhance the communities they serve.
Sectors
From corporate to cultural, our cross-sector expertise drives results where it matters most.
Learn how our experience can support your next project.