Login
Seattle, WA

Vance Building

Posted In — Success Stories |
134,000 SF
Managed
LEED-EB Gold
Certification
Management & Disposition
Services Provided

Project Outline

Located in Seattle’s Central Business District core and built in 1929, the Vance Building was acquired in 2006 by the nation’s first green smart growth investment fund focused exclusively on providing economic and environmental returns. Kidder Mathews was retained to manage and lease the 134,000-square-foot building, while supporting a $3.5 million structural and systems retrofit that included new windows, LEED-approved roof replacement, installation of weather stripping, mecco shades and light shelves, and lighting replacement.

 

Results

The Kidder Mathews team repositioned and marketed the building featuring the asset’s proximity to mass transit, dense retail amenities, and quality housing, while emphasizing ownership’s and management’s commitment to environmentally sustainable operations. As a result, the Vance Building leased to 95% occupancy at rents commanding a $4 to $6 premium. Consistent with its LEED-EB Gold certification, Kidder Mathews continued to manage and operate the building with an approach that increased building operation efficiency, decreased expenses, increased marketability,  lead to improved net operating income and value, and ultimately helped the ownership sell adding significant value to the client.

Share This Story