Class-A Commercial Office & Retail Building to Receive Main Lobby, Tenant Space and Ground-Floor Bike Storage Enhancements as Part of Extensive Renovations Slated for Completion in 2023
Seattle, WA January 11th, 2023 – Commercial real estate firm Urban Renaissance Group LLC (www.urbanrengroup.com) (URG), and global real estate investment manager, BentallGreenOak (BGO), today announced renovation plans for its 20-story Plaza 600 (www.plaza600.com) commercial office and retail building in downtown Seattle.
Construction at the 214,319 sq. ft. Class A office asset, located at 600 Stewart St, is now underway and includes extensive enhancements to the building’s main lobby, amenity spaces, and tenant-accessible spaces such as new ground-floor bike storage, which includes self-contained shower facilities.
“Since purchasing Plaza 600 just prior to Amazon’s rapid headquarters expansion in 2012, this part of downtown Seattle has evolved into an even more dynamic location,” said Shawn Jackson, URG Managing Director. “These new renovations are strategically designed to even better serve our current and future building tenants and visitors and respond to changing expectations.”
Built in 1969, Plaza 600 includes 209,256 sq. ft. of office and 5,063 sq. ft. of ground-level retail space. The complete transformation of the Plaza 600 experience will result in a more activated street-level presence and ground floor, modernized tenant floor finishes and highly appointed amenities. Specific renovations include:
URG acquired the Plaza 600 Building in 2012 and recapitalized it in partnership with BGO in 2019. Since that time, other renovations have included parking garage automations, fire pump and fire sprinkler backbone installations, multi-stack chiller installations, wet seal of building façade/envelopes, new silicone roof coatings, exterior paint updates to the ground and mezzanine levels, and security camera upgrades.
“In conjunction with our 2019 building recapitalization, we’ve elevated our investment strategy to align the experience of Plaza 600 to the evolution of its location and surroundings—driven largely by Amazon’s presence across the street, the addition of the Hyatt Regency and the significant expansion of the nearby Washington State Convention Center,” continued Jackson.
Currently 80% percent leased, existing tenants at the Plaza 600 Building include NBC News Group Digital, Coast Hospitality, Flagstar Bank and Kinwell Health, as well as Säzän Group, REGUS, Hoffman Construction, MBI Seattle, Valant Medical Solutions and Morrison Hershfield.
Now underway, the new renovations are slated to be completed by mid-2023. Grayscale Design Studio is the main level renovation project architect and Skyline Construction (formerly Unimark) is the general contractor.
For office leasing opportunities at Plaza 600, interested parties can contact Lisa Stewart (lisa.stewart@am.jll.com), Clieta Harvey (cleita.harvey@am.jll.com) and Michelle Weeks (michelle.weeks@jll.com) at JLL—with key office vacancies including the 4,800+ sq. ft. top floor penthouse. For retail leasing opportunities, interested parties can contact Anne Marie Koehler (annemarie.koehler@nmrk.com) at Newmark.
About Urban Renaissance Group
Urban Renaissance Group LLC is a Seattle-based full-service commercial real estate company, engaged in acquisitions, development, asset management, leasing, property management and ownership in Seattle, Bellevue, Denver and Portland. Founded in 2006, the strategic premise of Urban Renaissance Group (URG) is that the form of the American City is changing. URG acts as a catalyst that understands and ignites that change, thereby building community, generating appropriate returns for its investors and opportunities for its partners and employees. Learn more at www.urbanrengroup.com.
About BentallGreenOak
BentallGreenOak is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BentallGreenOak has offices in 28 cities across thirteen countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets. BentallGreenOak is a part of SLC Management, which is the institutional alternatives and traditional asset management business of Sun Life. For more information, please visit www.bentallgreenoak.com
