KM
Kidder MathewsIndustrial · Puget Sound
Real estate advisory for King County WTD
Kidder Mathews · Industrial — prepared for King County Wastewater Treatment Division

Tenant representation for the WTD capital program.

A dedicated Kidder Mathews team to source and negotiate the office, warehouse, and industrial-yard leases supporting the Elliott West and Mouth-of-Duwamish projects — at no cost to the County, with the market knowledge to move fast and the process discipline to clear Council.

2
Capital projects supported
SODO · Interbay
Target submarkets
$0
Cost to the County
55+ yrs
Kidder Mathews in the market
Our understanding of the assignment

What the County needs

The WTD capital program requires multiple leases — office, warehouse, and industrial outdoor storage — in the Duwamish and Interbay corridors to house teams, materials, and equipment through construction and commissioning. The County needs a single, accountable tenant-rep team to run every lease start to finish.

The requirement, as we read it

Role
The County's exclusive tenant representative (fiduciary)
Projects
Elliott West & Mouth-of-Duwamish CSO / treatment work
Space
~40,000 SF office · ~40,000 SF warehouse · industrial outdoor storage / laydown · ample parking
Submarkets
SODO / Duwamish & Interbay
Term
5–7 years across multiple leases
Horizon
Strategy fall 2026 → occupancy 2027–2028
Governance
King County Council approval

Why this is the right team

  • We already work these two corridors daily. SODO, the Duwamish, and Interbay industrial are the core of our practice — we know the owners, the availabilities, and the rents in real time.
  • We represent public agencies. We currently advise a Puget Sound public utility on a multi-acre industrial-yard requirement in this exact corridor — the same shape of assignment.
  • We are a known King County vendor. Kidder Mathews has held King County real-estate services contracts, so we already understand the County's process and standards.
  • One accountable team, at landlord expense. Senior brokers lead every lease; the County pays nothing.
How to use this document

Each tab answers a piece of the assignment: the Space Program we'll deliver, the Market we'll draw on, our Approach and schedule, relevant Experience, the Team, and the Fee (there is no cost to the County). Our formal written proposal accompanies it.

The space program we'll source

Four space types, one coordinated search

The capital program needs distinct but linked spaces. We'll run them as one coordinated search so timing, geography, and budget stay aligned across every lease — and so the County has a single point of accountability.

Program office
±40,000 SF
Office

Project, engineering, and construction-management staff. Priorities: efficient floor plates, parking ratio, transit access, term flexibility, and a fit-out timeline that supports 2027–28 occupancy.

Materials & equipment
±40,000 SF
Warehouse

Covered storage for materials, parts, and equipment. Priorities: clear height, dock & grade loading, power, secure access, and proximity to the two project sites.

Laydown
Yard / IOS
Industrial outdoor storage

Paved, secured laydown for pipe, equipment, and staging — the scarcest and most specialized asset class in the corridor, and a Kidder Mathews specialty.

Access
Parking
Ample parking

Sufficient parking for field and office staff and fleet, coordinated across the office and yard sites so crews and vehicles are where the work is.

The hard part — and where we add the most value

Office and warehouse are attainable in this market with the right relationships. Secured industrial outdoor storage adjacent to the project sites is the genuine scarcity — very little exists and almost none is openly marketed. Sourcing it is exactly what our industrial and IOS practice does, and it will drive the search strategy.

SODO · Duwamish · Interbay industrial

The market we'll draw on

The search geography maps directly to the two projects: the Duwamish / SODO corridor to the south and the Interbay corridor to the north. Both are among the tightest, most contested industrial submarkets on the West Coast — which is precisely why an owner-relationship-driven search wins.

Elliott Bay / Puget Sound Duwamish Waterway Harbor Is. Interstate 5 SR-99 Downtown Seattle INTERBAY Elliott West WTS (existing · upgrading) · Interbay SODO / DUWAMISH Mouth of Duwamish WWTS · S Spokane St & 1st Ave S N Seattle industrial corridors — search geography
Interbay search zone (Elliott West) SODO / Duwamish search zone (Mouth of Duwamish)

Schematic — relative positions, not to scale. Search boundaries refined with the County during the strategy phase.

Project site · verified

Mouth of Duwamish WWTS — SODO

An ~8-acre treatment-station site at S Spokane St & 1st Ave S, anchor of a ~$3.4B CSO program. The long, large program — and where our current availability is deepest. We center the SODO/Duwamish search on this site.

Project site · verified

Elliott West WTS — Interbay

The existing wet-weather station (operating since 2005) now being upgraded, in Interbay near Elliott Bay. We anchor the north search here and canvass Interbay / Magnolia-edge / Ballard for office, warehouse, and yard.

Why proximity drives the search

These are construction and commissioning programs — the office, warehouse, and yard need to sit close to their site so crews, materials, and equipment are where the work is. That's why we run two anchored searches, not one city-wide sweep.

What defines these submarkets

Chronic scarcity

Seattle close-in industrial has run structurally tight for years, with limited new supply and constant pressure from logistics, maritime, and construction users. Quality space leases on relationships, often before it's marketed.

IOS is the constraint

Industrial outdoor storage / laydown is the rarest asset in the corridor — shrinking as land redevelops. Securing it near the project sites is the single most important, and hardest, part of this assignment.

Cost geography matters

Rents, parking, access, and jurisdictional costs vary block to block across SODO, Georgetown, South Park, and Interbay. We map the trade-offs so the County's dollars and schedule go furthest.

Recent lease evidence · SODO / Duwamish
$1.00 /mo
±51,000 SF combined office + warehouse, 2nd Ave S — shell rate, early 2026 renewal
$0.96 /mo
±149,000 SF Duwamish warehouse (20,000 SF office) — blended, early 2026
$1.00–1.50
Current SODO / Duwamish warehouse asking, /SF/mo NNN
$1.19–1.47
Secured yard / terminal (IOS) asking, /SF/mo — the scarce product

Illustrative recent transactions and current asking rents from market data; specifics confirmed during the engagement. Party names withheld.

What we bring on day one

A live inventory of available and off-market office, warehouse, and yard space across both corridors, current asking and effective rents, and direct relationships with the owners who control it. We'll deliver a current-market survey during the strategy phase — this platform frames the approach and previews the availability.

A preview of current availability · illustrative

Space we can already source

To show what our market command means in practice, here is a curated sample of space currently available in the corridor that fits the program — office, warehouse, and the scarce secured yard. This previews our approach; a formal, verified current-market survey is delivered during the strategy phase.

How to read this

Options are grouped by the two project clusters and by use. Each carries our initial posture — Tour, Hold, or Pass. Sizes and rates reflect recent market data and are subject to verification; we present space unbranded and confirm rate, availability, and terms directly with ownership before any tour.

Cluster A · SODO / Duwamish Mouth of Duwamish WWTS · S Spokane & 1st Ave S

Every option below sits within roughly a mile of the WWTS site at S Spokane St & 1st Ave S — the SODO/Duwamish industrial core, walking distance to the program's largest capital project.

Warehouse ± 40,000 SF
750–770 S Michigan St
Georgetown / Duwamish · warehouse + office
46,125 SFoffice 11,422clr 20'17 dock4.15 ac
Near-40k warehouse with a large office block and 4+ acres for laydown — office, warehouse, and yard on one site. Clear height is moderate.
$1.35 /SF/mo NNNTour
2400–2450 8th Ave S
SoDo · warehouse
59,915 SFoffice 4,397clr 24'34 dock2.49 ac
Heavy dock loading, modern clear height, and yard land; demisable toward the ~40k target. Larger than the base need.
$1.19–1.46 /SF/mo (est.)Tour
6335 1st Ave S
Georgetown / Duwamish · warehouse
37,538 SFclr 22'8 dock2.55 ac
Right-sized ~40k warehouse with 2.5 acres for staging. No office in place — would suit a warehouse-only lease within the program.
$1.13–1.39 /SF/mo (est.)Hold
130 S Dakota St
Georgetown / Duwamish · warehouse
41,468 SFclr 18'2 dock~1 ac
Clean ~40k footprint, central location. Light loading (2 docks) and 18' clear are the trade-offs.
$1.16–1.42 /SF/mo (est.)Hold
Office / flex ± 40,000 SF & combined-use sites
54 S Dawson St
SoDo · office + warehouse + land
59,447 SFoffice 28,600clr 16'25 dock4.30 ac
The strongest single-site office + warehouse + land combo in-corridor — ~28.6k of office is closest to the office need with warehouse and yard attached. 16' warehouse clear is the compromise.
$1.17–1.43 /SF/mo (est.)Tour
4201–4521 6th Ave S
Georgetown / Duwamish · flex + 10-ac land
27,560 SFoffice 15,465clr 31'6"40 dock10.33 ac
Modern high-clear space plus a rare 10-acre land position — warehouse and a major laydown yard on one control. Available building block is smaller and phaseable.
$1.10–1.34 /SF/mo (est.)Tour ★
3849–4143 1st Ave S
Georgetown / Duwamish · office-heavy flex
32,281 SFoffice 24,000clr 20'28 dock6.78 ac
~24k of office within a flex building on nearly 7 acres — a candidate for the program office with adjacent warehouse and yard. Confirm office layout suits the teams.
$1.12–1.37 /SF/mo (est.)Hold
Industrial outdoor storage · secured yard & laydown — the scarce piece
1762 6th Ave S
SoDo · secured yard / terminal
5.23 ac88,926 SF34 dock
Large secured yard/terminal in the SODO core — prime for pipe and equipment laydown. Terminal configuration and scale/price to weigh.
$1.19–1.46 /SF/mo (est.)Tour
646 S Holgate St
SoDo · secured yard / terminal
2.50 ac25,880 SF32 dock
Right-sized secured yard minutes from the project core — a strong standalone laydown lease. Premium SODO pricing.
$1.21–1.47 /SF/mo (est.)Tour
Off-market yard canvass
SoDo / Duwamish · relationship-sourced
IOS2–6 acoff-market
Most secured yard never reaches the open market. Our first move is a direct owner canvass across the corridor to surface laydown that competitors won't see.
Sourced on awardSource
Cluster B · Interbay Elliott West WTS

Interbay is a separate, tighter pull

Interbay / Ballard close-in industrial is among the most supply-constrained submarkets in the region, with very little openly marketed and most space trading on relationships. We'll run a dedicated Interbay canvass — office, warehouse, and yard near the Elliott West site — during the strategy phase and add those options to this survey. Being relationship-driven there is exactly where our team's owner network earns its keep.

Bottom line

Even a first pass shows real, program-fit space — including combined office + warehouse + yard sites and genuine secured laydown — available now in the Duwamish. That is the difference between a firm that claims the market and one that already works it every day.

How we'll run the assignment

A disciplined, transparent process

A repeatable methodology built for public-agency work: rigorous up front, fast in the market, and structured so every lease clears Council cleanly and lands on schedule.

Phase 1 · Fall 2026

Strategy & needs analysis

Confirm the program with WTD — space types, sizes, adjacencies, budget, and schedule for each project. Define search geography and success criteria. Deliver a market survey of available and off-market options in both corridors.

Phase 2

Sourcing & tours

Canvass on- and off-market space, prioritize the scarce yard/IOS, and tour a curated shortlist. Provide a side-by-side comparison — rent, term, condition, parking, access, and total occupancy cost.

Phase 3

Negotiation

Run competitive negotiations to drive rate, concessions, and flexible terms. Manage LOIs and lease drafts on the County's fast turnaround expectations, coordinating with County counsel and risk.

Phase 4

Council approval support

Package each transaction for Council — fair-market documentation, business terms, and the record needed for authorization. We build the process into the schedule from day one so it never becomes the bottleneck.

Phase 5 · 2027–28

Execution & occupancy

Coordinate lease execution, fit-out timing, and commencement across the multiple leases so the program is in its space when the work demands it.

Single point of accountability

One senior-led team across all leases — no handoffs, no gaps between the office, warehouse, and yard searches.

Full transparency

Open reporting on options, economics, and compensation — everything documented for the public record.

Built for the County's pace

Structured to hit ~5-day document turnarounds and a 2027–28 occupancy without cutting corners on diligence.

Directly relevant experience

We've done this shape of work

Representative Kidder Mathews industrial tenant-representation and advisory assignments that map to this program — public-agency clients, multi-space requirements, and the scarce yard/IOS product this search hinges on. A full transaction schedule accompanies our formal proposal.

Public agency · active

Multi-acre yard requirement for a public utility

We currently advise a Puget Sound public utility sourcing several acres of secured industrial staging in this same corridor to support a capital project — the same client type, geography, and asset as this assignment.

Tenant rep · office+warehouse+yard

Large distribution requirement, building + yard

Represented a national user on a 120,000–140,000 SF warehouse-plus-yard requirement — sourcing, touring, and negotiating combined building and outdoor-storage space, exactly the mix this program needs.

IOS specialty

Duwamish industrial outdoor storage

Active leasing and advisory on secured yard / IOS along the Duwamish — the corridor and asset class at the center of this search, where most availability never reaches the open market.

Requirement rep

Manufacturing & storage tenant searches

Ongoing representation of manufacturing and storage users on requirements from ~35,000 SF with yard up to ~200,000+ SF — the site-selection, comparison, and negotiation discipline this assignment demands.

Public real estate

Port & municipal advisory

Firm-wide work with public port authorities and municipal agencies on ground leases, dispositions, and valuation — fluency in public process, fair-market standards, and governing-body approval.

Portfolio & multi-lease

Coordinated multi-site programs

Experience running multiple simultaneous leases and multi-building programs with unified reporting — the coordination this two-project, multi-lease assignment requires.

References

Public-sector and industrial-tenant references — including agency clients we've represented on comparable requirements — are provided with our formal proposal and available on request.

Your team

Senior brokers, start to finish

The people who pitch are the people who do the work. A senior-led team backed by Kidder Mathews' research, valuation, and lease-administration platform — one accountable group across every lease.

MM
Matt Murray, SIOR
Executive Vice President, Shareholder — assignment lead
Puget Sound industrial · public-agency & IOS specialization · 206.919.4515
DD
Dane Dahline, SIOR
Senior Vice President, Shareholder — execution
Industrial leasing & site selection · valuation & land analysis
KM
King County relationship lead
Senior broker — County coordination
Direct relationships within County Real Estate Services · [add name]
+
KM platform support
Research · Valuation Advisory · Lease Administration
Live market data, BOVs, and transaction management behind the team
The Kidder Mathews platform
$9B
Annual transaction volume
4,700+
Annual transactions
900+
Professionals & staff
19
West Coast offices
36.7M SF
Leased annually
26.2M SF
Sold annually
58M SF
Under management
55+ yrs
In the market
Independent, and the largest privately held firm on the West Coast

That structure means the County gets independent, conflict-managed counsel from senior local experts — backed by the research, valuation, and management depth of a major regional platform.