PORT OF SEATTLE 
MEMORANDUM 
COMMISSION AGENDA               Item No.      7e 
STAFF BRIEFING 
Date of Meeting     March 8, 2016 
DATE:    February 19, 2016
TO:     Ted Fick, Chief Executive Officer 
FROM:    Dave McFadden and Jeffrey Utterback 
SUBJECT:  Real Estate Strategic Plan 
SYNOPSIS 
The Port of Seattle has the statutory powers and land resources to drive dramatic growth
and achieve our Century Agenda goal to create 100,000 jobs by 2025. To provide a
roadmap for real estate development and investment, the Economic Development
Division is starting a strategic planning initiative that evaluates our real estate portfolio
and properties the Port may want to acquire. This effort will help develop visionary,
creative, and actionable plans that create middle class jobs and support the Port's key
clusters.
BACKGROUND 
The Real Estate Strategic Plan will help Port thoughtfully steward its use of real estate,
capital assets and financial capabilities towards accomplishing the Century Agenda. It
will address certain key questions and issues related to the Port's real estate portfolio.
As examples: 
How can the Terminal 91 uplands be developed to help double the economic
value of the fishing and maritime cluster?
How can the Port acquire property to help create and retain middle class jobs? 
How can the Port's marine terminals support anticipated growth in cruise ship
operations?
How can the Port's portfolio enable the new Economic Development Division's
broader priorities - including small business development, tourism, and workforce
development? 
What types of real estate development or investment activities are needed to
become the greenest most energy efficient port in North America? 
How can the Port work with its public and private partners in King County to
steward our collective capabilities towards providing economic opportunity for
all?


Template revised May 30, 2013.

COMMISSION AGENDA 
Ted Fick, Chief Executive Officer 
February 19, 2016 
Page 2 of 3 
PROPERTIES BEING EVALUATED 
The Economic Development Division has taken a comprehensive look at the Port's real
estate portfolio. Staff is focusing the real estate strategic plan on every Port property that
can support industrial or commercial development. This does exclude Seaport Alliance
terminals, sites impacted by the SAMP, sites nearing development like NERA in Burien,
and a few small sites (ex. Terminal 16/17). 
The table below identifies how Port properties were selected for the strategic plan: 
Evaluation by NW
Being Evaluated        Evaluation Complete 
Seaport Alliance 
Real Estate Plan         Shovel Ready                        Terminal 5 
55-acre site (SeaTac)       Des Moines Creek Phase 2 (Des Moines)        Terminal 10 
L-Shape (SeaTac)        Des Moines Creek Phase 3 (SeaTac)          Terminal 18 
13-acre site (SeaTac)       NERA 2 and 3                         Terminal 25 
200th Street (SeaTac)                                         Terminal 30 
Terminal 91            Fully Developed                       Terminal 46 
Terminal 91 Uplands      Manufacturing Industrial Center            Terminal 103 
Terminal 106           Harbor Corp. Marine Center (90% occupied)     Terminal 104 
CEM Property                                       Terminal 105 
Terminal 2                                             Terminal 107 
Terminal 108 
SAMP                                 Terminal 115 
South Airport (SASA)                                     Terminal 117 
Fisherman's Terminal 

Heartland (HL) is our consultant managing this project and is led by Matt Anderson.
Matt and his team have done significant work on Port (POS) properties historically and
HL has an outstanding reputation for facilitating and guiding development throughout the
Puget Sound region. Matt's team will evaluate current Port properties and analyze
alternate sites throughout King County that could be acquired or controlled by the Port to
create jobs and drive county-wide prosperity.
HL will be joined by New Harbor Consultants (NHC), a management consulting firm
with significant economic development experience with ports and the maritime industry,
and Cushman & Wakefield (CW), who will bring a deep knowledge of the industrial submarkets
in King County. 
An internal Port employee team will support analysis of Port properties. An advisory
committee composed of 10-12 representatives from local government and the private
sector will be formed to guide the overall project. This group will help ensure project
recommendations are understood and supported by the Port's key stakeholders.

COMMISSION AGENDA 
Ted Fick, Chief Executive Officer 
February 19, 2016 
Page 3 of 3 
To start the project focus groups will be held in various locations throughout King
County to ensure broad stakeholder involvement and awareness. Two additional
Commission briefings are also on the project calendar. Below is a working schedule of
planned meetings:



ATTACHMENTS TO THIS BRIEFING 
PowerPoint Presentation: Real Estate Strategic Plan 
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS 
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