PS Business Parks, a real estate investment trust specializing in office, warehouse, and business park space nationwide, wanted to expand into the Seattle area through the acquisition of 212 Business Park, located in the heart of the Kent Valley, Seattle’s core industrial area. 212 was big—nearly a million square feet—but suffered from deficiencies, including low clear heights, minimal size flexibility, poor site circulation, and a 50 percent vacancy rate.
WHAT WE DID
We developed a strategic plan for redeveloping 212, and then assembled a design, construction, and leasing team to execute it. Improvements included:
Our team moved quickly on both marketing and delivering the new space. As a result, the project quickly leased up at 100 percent capacity, while achieving rents nearly 40 percent higher than before our redevelopment. 212 Business Park is now one of the highest-yielding investment properties in the PS portfolio.
A PRIME KENT LOCATION GETS A PRIME MAKEOVER
Trinity applies it's 100 years of real estate experience to turnaround this struggling business center.
LINCOLN SQUARE - BIG SOLUTIONS FOR A BIG PROJECT
With 1.3 million square feet behind schedule and over budget the solution was simple - call Trinity.
MARLBOROUGH HOUSE - A REMODELED CLASSIC
Some people see a half-renovated, 1920s apartment building with mold issues and call it a mess. We called it 12 floors of opportunity.
SEATTLE TOWER LANDMARK FINDS NEW LIFE
We liked our renovation of this downtown icon so much that we moved in. Investors were happy with the results, too.