Port of Seattle
Real Estate Strategic Plan & Implementation Support
Heartland was retained by the Port of Seattle to create a real estate strategy focused on defining the redevelopment economics and implementation strategies for properties within the Port’s current portfolio, as well as identifying non-port owned properties that the Port might consider acquiring and repositioning over the long-term. Heartland prepared property-specific and portfolio level financial analyses, tested alternative development scenarios and transaction structures, and identified specific steps that can be taken to execute the plan. To assess non-port owned properties, Heartland created a GIS-based tool that evaluated numerous property characteristics for every industrially zoned property in King County.
Heartland was then engaged to execute on the Real Estate Strategic Plan, which includes marketing several major industrial and maritime ground lease development opportunities through a Port-driven RFP process, supporting build-to-suit lease negotiations and providing financial analyses to inform new strategic initiatives.