CHALLENGE
Kidder Mathews, the largest fully independent commercial real estate firm in the Western U.S., had occupied its Seattle headquarters on the 47th & 49th floors of Two Union Square since the mid-1990’s. By 2023, Kidder Mathews occupied 17,682 SF across two floors. The layout featured oversized private offices and the multi-floor configuration created both operational and cultural fragmentation.
ACTION
Rather than waiting for the lease to naturally expire, Kidder Mathews proactively went to market 2 years early, strategically timing its search with the softest Seattle office market in decades.
After evaluating multiple downtown relocation options-including Russell Investments Center- the firm identified a unique opportunity on the 27th floor of its existing building. The suite featured a dense, existing private office window-line layout. This allowed Kidder Mathews to retain its private office layout, while avoiding costly private office construction and directing all landlord-provided TI funds toward modernizing the internal collaboration areas.
RESULT
Ultimately, Kidder Mathews relocated into the new 27th floor suite 14 months prior to the original lease expiration date. Quantitatively, the early move delivered substantial economic benefits through a 5,499 SF footprint reduction, immediate rental rate reduction, and significant free rent period. Relocating within the building also allowed for zero operational disruption from construction, unlike a traditional stay-put renovation.
Operationally and culturally, the impact has been equally transformative. All Seattle operations are now unified on a single modern floor. The new suite is constructed with extensive glass and has tremendous natural light.
Remaining in Two Union Square, one of Seattle’s premier trophy office buildings, this project represents a best-in-class example of a true flight-to-quality without changing buildings.