7e supp

Item No.             7e_supp 
Date of Meeting          March 8, 2016 
Real Estate Strategic Plan 
Commission Briefing 
March 8th 2016 




1

Real Estate Drives Dramatic Growth 
What are the bold, creative, and visionary ideas for the
Port's real estate portfolio that also align with the
Century Agenda and the long-range plan? 
What types of Port real estate investments will be
most effective in facilitating dramatic growth
throughout King County? 
How can we use our statutory powers to help create
and retain middle class jobs? 

Creating Middle Class Jobs Through Land Development Activities 
2

Leverage Port Real Estate 
1. Support Century Agenda goals 
New Middle Class Jobs - 100,000 jobs by 2025 
Grow as an international logistics hub/tourist
destination/business gateway. 
Support small business growth and workforce
development 
Leadership in energy efficiency & environmental design 
2. Support Divisional Initiatives 
Maritime, Cargo, Aviation, and Economic 
Development 

Portfolio and Property Level Strategies to Achieve Dramatic Growth 
3

Developing the Visionary Actionable Plan 
Port Leadership                  External Advisory Committee 
Dave McFadden, Managing Director,     Finance 
Economic Development 
Real Estate 
Jeffrey Utterback, Director, Real Estate 
Puget Sound Regional Council 
Port Real Estate Team (PRET)            City of Seattle 
Al Royal (real estate)                  King County 
Stephanie Jones-Stebbins            Local Government 
(environmental) 
Dave Soike (airport)                Consulting Team 
Eric Hansen (T91 and Seaport Alliance) 
Melinda Miller (non-airport assets) 
Mike McLaughlin (cruise) 
Kelly Zupan (finance) 
Internal and External Stakeholders Will Guide the Plan 
4

Evaluating Port Owned Properties 
Properties selected based on industrial development or redevelopment potential* 
Being Evaluated       Evaluation Complete or Fully Developed     Evaluation by NW Seaport Alliance 
Real Estate Plan                                          Terminal 5 
55-acre site (SeaTac)         Shovel Ready                             Terminal 10 
L-Shape (SeaTac)           Des Moines Creek Phase 2 (Des Moines)            Terminal 18 
13-acre site (SeaTac)         Des Moines Creek Phase 3 (SeaTac)                Terminal 25 
200th Street (SeaTac)        NERA 2 and 3                               Terminal 30 
Terminal 91                                                    Terminal 46 
Terminal 91 Uplands                                            Terminal 103 
Terminal 106                                                 Terminal 104 
CEM Property           Fully Developed                       Terminal 105 
Terminal 2               Manufacturing Industrial Center                 Terminal 107 
Harbor Corporate Marine Center (90% occupied)      Terminal 108 
SAMP                                       Terminal 115 
South Airport (SASA)                                              Terminal 117 
Fisherman's Terminal        * Does not include a few sites under 2 acres with little industrial development or redevelopment potential
How Can Port Properties Advance the Century Agenda? 
5

Port Owned Property Strategy 



6

Evaluating Properties for the Future 
Identify non-Port properties that have the potential to
advance the Century Agenda objectives. 
Use a variety of evaluative criteria to determine which
properties present the best options for land banking: 
Comp Plan and Zoning 
Infrastructure 
Transportation Access 
Current & Adjacent uses 

Identify Properties That Can Support Jobs & Private Investment 
7

Identify & Prioritize Land Bank
Opportunities 



8

Real Estate Drives Economic Opportunity 
The  Real  Estate  Strategic  Plan  will  provide  a  property  and 
portfolio level roadmap for utilizing real estate assets to achieve 
the Century Agenda objectives. 




Leverage Real Estate Assets to Achieve the Century Agenda 
9

Next Steps 

Internal Meetings Monthly with PRET 
Three External Advisory/Steering Committee Meetings 
Three Focus Groups with public and private stakeholder groups
in various locations around King County 
Three Port Commission briefings (including today) 
Working with Public and Private Partners to Steward Our Collective Capabilities 
10

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