Port of Seattle to Redevelop Terminal 106 in Partnership with Trammell Crow Company
May 26, 2021
“Industrial lands are the backbone of our region’s economic resilience and full of untapped potential. Putting a strategic property back into productive use creates immediate construction jobs and lasting economic development opportunities for nearby underrepresented communities,” said Port of Seattle Commissioner Peter Steinbrueck. “Trammell Crow Company developed our Des Moines Creek North property in the City of SeaTac and we look forward to work with them on this project.”
The Terminal 106 development will play a role in supporting the cargo handling and logistics sector of the Port’s maritime operations. From a regional traffic standpoint, by shortening the distance from the container terminal to last-mile destinations, the building’s location can help limit the number of trucks freighting cargo down I-5 from Seattle to as far as south of Tacoma, managing traffic, noise, and air pollution in the region.
"We are pleased to be working alongside the Port of Seattle on this important project, which will create a significant advantage for the Port as it advances its logistics capabilities and ability to attract world-class industrial tenants to this market,” said Mark Netherland, a Managing Director with TCC Seattle. “The new building will provide state-of-the-art logistics capabilities and include features that current and future industrial tenants require for their space.”
The project will provide approximately 140 prevailing wage construction jobs during the build out of the property and will support approximately 650 to 1200 full-time employees with an estimated payroll of more than $28 million annually, providing apprenticeship training opportunities during construction.
The building is expected to be complete by 2024.
Trammell Crow Company
Trammell Crow Company (TCC) is a global commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of September 30, 2023, TCC had $15.4 billion of projects in process and $14.5 billion in its pipeline. It employs 650 professionals in 28 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.