COMMISSION 
AGENDA MEMORANDUM                Item No.       7a 
BRIEFING ITEM                   Date of Meeting    October 25, 2016 
DATE:    October 25, 2016 
TO:     Ted Fick, Chief Executive Officer 
FROM:   Dave McFadden, Managing Director, Economic Development Division 
Jeffrey Utterback, Director of Real Estate & Economic Development 
SUBJECT:  Real Estate Strategic Plan 
EXECUTIVE SUMMARY 
The Port's Real Estate Strategic Plan provides a road map to advance the Century Agenda,
create middle class jobs and ensure that everyone shares in the region's economic prosperity.
King County is the 12th fastest growing large county in the country. The Puget Sound Regional
Council projects that over the next 30 years, King County will add 300,000 residents and
600,000 new jobs. Fostering diverse economic growth requires a land base that can
accommodate a wide range of uses, including industrial lands where employers manufacture
and store goods within an ever evolving global supply chain. 
The Port of Seattle owns approximately 4,000 acres of real estate in King County. Of the total
holdings, nine properties totaling 123 acres have the potential for redevelopment.  The Port
can also use its statutory powers and financial capacity to acquire or control new properties
that can drive economic prosperity throughout King County. Initial estimates suggest that Port
real estate development activities can drive creation of 14,000+ jobs over the next ten years. 

BACKGROUND 
In February 2016, the Port engaged a team of consultants to work collaboratively with the
Economic Development Division to create a Real Estate Strategic Plan to serve as a roadmap for
allocating resources and making decisions associated with the Port's current and future real
estate portfolio within the context of implementing the Century Agenda. Over the last 9
months, the multi-departmental Port Real Estate Team and consultant team prepared analyses,
convened workshops and engaged an external Advisory Committee of industry representatives
to formulate the plan. 
Today's focus is on: 
Real Estate Development Portfolio 
North Bay (T91 Uplands and Piers 90/91) 

Template revised September 22, 2016.

COMMISSION AGENDA  Briefing Item No. ____                     Page 2 of 2 
Meeting Date: October 25, 2016 
South Bay (CEM, P2 & T106) 
North SeaTac (55-Acre, 13-Acre, L shaped site) 
Real Estate Acquisition Program 
Purpose/Intent 
Property Identification & Evaluation 
Target Submarkets 
In addition to specific near, mid and long-term actions for each asset, the Real Estate Strategic
Plan forecasts the financial and economic development impacts of  implementation and
identifies four guiding principles for managing port real estate: 
1.  Focus on middle class jobs creation through industrial development 
2.  Invest in key outcomes (Century Agenda) 
3.  Anticipate change 
4.  Take a balanced portfolio approach 
maximize potential of every underdeveloped asset 
measure financial and job output at the portfolio level 
invest in key infrastructure (e.g. T-91) 
Implementation of the Real Estate Strategic Plan will involve: 
1.  Building momentum by ground leasing "ready to go" sites. 
2.  Finalizing finance plan to support Real Estate Plan implementation 
Determine whether sale of Port assets can support real estate development 
3.  Prioritizing acquisition targets 
4.  Educating stakeholders about real estate development aspirations and activities 

ATTACHMENTS TO THIS BRIEFING 
(1)   Presentation slides 
(2)   Real Estate Strategic Plan 
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS 
Previous Commission Briefing include: 
August 9th 2016  Study Session 
July 26th, 2016  Study Session 
May 23rd 2016  Commission Retreat 
March 8th 2016 Commission Meeting 



Template revised September 22, 2016.