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.

Available space by requirement · SODO / Duwamish · illustrative

Space we can already source

Current corridor availability that fits the program, split into a tab per requirement. The RFP calls for multiple leases and does not require the uses to be co-located — but where we can put them next to each other, we cut cost, travel, and coordination. Start with Combined & Adjacent. Distances are straight-line to the WWTS site at S Spokane & 1st Ave S.

How to read this

Each tab is one requirement — Office, Warehouse, Yard/IOS, Parking — plus a lead Combined & Adjacent view. Options carry our posture (Tour, Hold, Pass) and a distance to the SODO project site. Space is shown unbranded; sizes/rates are recent market data, verified with ownership before any tour.

The play

Two ways to co-locate: a single site already holding office + warehouse + yard, or an adjacent cluster on 1st Ave S — the WWTS site's own street — where separate leases sit a few blocks apart. Both keep the program tight around the project.

Single sites that combine office + warehouse + yard
3849–4143 1st Ave S 0.37 mi
On 1st Ave S · office-heavy flex + ~7-ac yard
32,281 SFoffice 24,000clr 20'28 dock6.78 ac
The anchor: ~24k office, warehouse, and nearly 7 acres of yard on one control — all three requirements at one address on the project street, a third of a mile from the WWTS site.
$1.12–1.37 /SF/mo (est.)Tour ★
4201–4521 6th Ave S 0.63 mi
Georgetown/Duwamish · high-clear flex + 10-ac land
27,560 SFoffice 15,465clr 31'6"40 dock10.33 ac
Modern 31'6" clear building with 15k office plus a rare 10-acre land position — warehouse and a major laydown yard on one control, phaseable to size.
$1.10–1.34 /SF/mo (est.)Tour ★
54 S Dawson St 1.15 mi
SoDo · office + warehouse + 4.3-ac land
59,447 SFoffice 28,600clr 16'25 dock4.30 ac
The largest office block in-corridor (~28.6k) with warehouse and 4+ acres attached — closest single site to the ~40k office need. 16' clear is the warehouse compromise.
$1.17–1.43 /SF/mo (est.)Tour
The 1st Ave S adjacency cluster — within ~0.4 mi of the WWTS site

If the program prefers separate leases, this dense run on and around 1st Ave S — the project's own street — lets us place office, warehouse, and yard within a few blocks of each other and the site. A sample of what's open now:

AddressTypeAvail SFLandDist
3301 1st Ave SManufacturing36,0000.68 ac0.12 mi
65 S Horton StWarehouse (big-box)146,0021.09 ac0.13 mi
3200 Occidental Ave SSecured yard / terminal16,4420.97 ac0.19 mi
3663 1st Ave SWarehouse24,0000.92 ac0.19 mi
3847 1st Ave SWarehouse (big-box)130,5412.40 ac0.28 mi
25–29 S Hanford StWarehouse + office34,9971.06 ac0.28 mi
4000 1st Ave SManufacturing57,7771.21 ac0.32 mi
3851 1st Ave SWarehouse + yard35,5791.59 ac0.35 mi
3849–4143 1st Ave SOffice + wh + yard32,2816.78 ac0.37 mi

Straight-line distances to S Spokane St & 1st Ave S. Illustrative current availability; verified with ownership before tour.

Warehouse ± 40,000 SF SODO / Duwamish core
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
The honest read

A dedicated ~40k office block is the tightest requirement in this industrial corridor — most large office sits inside combined flex buildings rather than standalone. We'd anchor the office in a combined site (below), or run a targeted office-market pull alongside the industrial search. Strongest office-bearing options open now:

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
Abundant parking

Parking is engineered into the site strategy — not a separate market

"Abundant parking" is delivered three ways, and we lock it into each lease: (1) the land-heavy combined and yard sites carry multiple paved acres — ample fleet and staff parking on the same control; (2) SODO/Duwamish buildings typically include surface parking we negotiate into the lease; and (3) where a site is parking-short, we secure an adjacent lot on a companion lease. We size parking to WTD's field-and-office headcount and fleet during the strategy phase.

  • Best on-site parking today: the 10.33-ac (4201–4521 6th Ave S), 8.43-ac (4786–4790 1st Ave S), and 6.78-ac (3849–4143 1st Ave S) land positions.
  • Every secured-yard site doubles as fleet and equipment parking.
Interbay · Elliott West WTS north cluster

Interbay is a separate, tighter pull

Interbay / Ballard close-in industrial is among the most supply-constrained submarkets in the region — very little is openly marketed and most space trades on relationships. We'll run a dedicated Interbay canvass for office, warehouse, and yard near the Elliott West site during the strategy phase and add those options here. 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 assignments that map to this program — public-agency clients, facility searches and dispositions, multi-space requirements, and the scarce yard/IOS product this search hinges on. Public-sector engagements are named below; private tenant-rep clients are described by type. A full transaction schedule and references accompany our formal proposal.

Municipal & public-agency work
Fire district · both sides

South King Fire

Represented the fire authority on both sides of its real estate — the disposition of ±19.86 acres of surplus land (under contract to a national developer at ~$22.35M) and the search for a new station site. A public agency, a surplus sale, and a facility search through public governance — the closest analog to this assignment.

Public utility · active

Seattle Public Utilities

Advising SPU on the disposition of its closed Kent landfill holdings and on a multi-acre secured-yard requirement in this same Duwamish corridor supporting a capital project — the same client type, geography, and asset class as the WTD program.

Public port

Port / NW Seaport Alliance

Advisory on port and marine-industrial ground leases and land — fluency in public leasing standards, fair-market process, and board/commission approval that carries directly to King County's Council process.

Industrial tenant representation — office, warehouse & yard
Building + yard

National distribution requirement

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

Large storage

±214,000 SF storage user

Tenant-rep search for a large storage / distribution user — the scale, comparison, and negotiation discipline behind a multi-lease program.

IOS specialty

Duwamish secured yard / IOS

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

Manufacturing

Precision-manufacturing search

Site selection for a manufacturing user on a slab- and power-spec requirement — the technical diligence a specialized facility program demands.

Multi-lease

Coordinated multi-site programs

Multiple simultaneous leases and multi-building programs run with unified reporting — the coordination a two-project, multi-lease assignment requires.

Corridor knowledge

SODO / Duwamish sales & land

Ongoing sell-side and land assignments across SODO and the Duwamish — deep, current knowledge of who owns what along the project corridor.

References

Public-sector references — including the agency clients named above — 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.