Firm Plans Significant Investments in 400 Westlake and the Federal Reserve Building; Will Focus Aggressively on Activation and Leasing
Seattle, Wash., May 12, 2025 – Seattle-based commercial real estate firm Urban Renaissance Group LLC (www.urbanrengroup.com) (URG) today announced it has assumed all asset and property management services for 400 Westlake, the Federal Reserve Building, and 800 Alaskan Way as part of a change of ownership structure.
Under URG’s direction, the ownership group will make significant investments in 400 Westlake and Federal Reserve Building to modernize each office building’s common area spaces and improve the tenant experience, ensuring the assets represent top-of-market, Class A workspace. URG will also oversee the redesign and entitlement of the full block waterfront site at 800 Alaskan Way.
“Both 400 Westlake and the Federal Reserve Building showcase what’s possible with historic preservation, adaptive reuse, and the most advanced trends in sustainable and efficient design practices. We look forward to executing our vision to reinvigorate these buildings and reintroduce them to the market,” said Matthew Simo, URG CEO. “Under the new ownership structure, we are highly motivated to activate these two properties with the next generation of users and are ready to immediately engage with prospective tenants.”
To assist with leasing activity, URG engaged third-party listing brokers for each asset:
Located in the heart of South Lake Union, one of the fastest growing neighborhoods in Seattle, 400 Westlake is a 15-story, 230,000 square foot Class A office building that represents the transformation of the landmarked Firestone Tire Building. The Federal Reserve Building, located at 1015 Second Avenue, is an 11-story, 204,000 square foot Class A office tower that was originally built in 1950 and includes five beautifully restored existing floors complemented by seven new floors encased in a glass jewel box. 800 Alaskan Way is a prime waterfront development site located directly across from the Washington State Ferry Terminal.
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 urban centers are 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.
