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Navigating Seattle’s Evolving Office Market: Trends, Challenges and Opportunities

Delivering Top-Class Projects Amid a Volatile Market, Leasing Strategies, Market Trends, and Conversion Opportunities

Liz Thorson

Liz Thorson

Director, Market Leader

Unico Properties

Sarah King

Sarah King

SVP, Sustainability

Kilroy Realty

Michael Vander Ploeg

Michael Vander Ploeg

Principal

DLR Group

Olin Wick

Olin Wick

Project Executive

Foushee

Andrew Bjorn
Moderator

Andrew Bjorn

Preconstruction Executive

Turner Construction

Liz Thorson

Director, Market Leader

Unico Properties

Elizabeth “Liz” Thorson is the Director of Leasing for Unico. During her time at Unico, Liz has overseen the leasing of University of Washington’s Metropolitan Tract in downtown Seattle. In addition to the University of Washington portfolio, Liz oversees real estate investments for the greater Puget Sound portfolio working with partners such as Goldman Sachs, Morgan Stanley, and AEW, to name a few.

Liz spent most of her real estate career representing local and institutional owners as a broker with CBRE and the CAC Group and brings a depth of knowledge in commercial real estate transactions.

Sarah King

SVP, Sustainability

Kilroy Realty

Sarah King is Senior Vice President of Sustainability at Kilroy Realty, working to advance the sustainability performance of all new and existing buildings in the Kilroy portfolio. She leads the sustainability team and its efforts on operational & embodied carbon, energy efficiency, renewable energy, health & wellness, water use & waste reductions, and positive social impact.

Sarah has been working in the sustainability field for over 20 years. Prior to joining Kilroy, she held sustainability roles at Skanska USA Commercial Development and DuPont. She has also worked for several NGOs, including Climate Mayors and the Environmental Law Institute.

She earned a BA in economics from Carleton College and an MBA from The George Washington University School of Business. Sarah holds LEED Green Associate, Fitwel Ambassador, and WELL AP credentials. She volunteers on the Net Impact Advisory Board at the University of Washington Foster School of Business and sits on the Advisory Board of the Carbon Leadership Forum. Sarah is an Aspen Institute Catto Fellow.

Michael Vander Ploeg

Principal

DLR Group

Michael leads DLR Groups Commercial Studio in the Northwest. As an architect and researcher, he is interested in finding better solutions to make our built environment safe, productive, and fun through technology, construction, and data. He is currently researching new ways to consolidate sensor data from built environments in order to make them more sustainable, enjoyable, and healthier, and fabricating prototype installations that engage clients in the communities they live and work.

Olin Wick

Project Executive

Foushee

Olin Wick has spent his entire 18-year career in the Construction Industry with Foushée, rising from project engineer and project management roles. As a Partner at Foushée, Olin has been instrumental in growing the company’s interiors and renovations group. In today’s fast-paced tenant improvement market, Wick has established an effective, results-driven leadership style that focuses on collaboration and “win-win” solutions for clients, design partners, and subcontractors. With a keen focus on tenant improvements and interiors, Olin has developed a strong team of professionals to tackle the Puget Sound Region’s most complex and challenging projects.

Andrew Bjorn

Moderator

Turner Construction

Andrew Bjorn is a construction industry veteran with 26 years of experience in construction and related fields, including development and finance, and is highly regarded for his expertise and dedication. Starting his educational journey at BYU, Andrew developed a solid foundation in construction principles and a true passion for the field. His commitment to learning led him to earn an MBA at the University of Washington, where he honed his leadership and management skills.

Andrew’s accreditation as a LEED AP is a standout achievement, showcasing his commitment to sustainable construction practices. Over his 26-year career, he’s held roles in operations and preconstruction, such as Project Engineer, Senior Project Manager, Estimator, and Preconstruction Manager, gaining a comprehensive understanding of construction from start to finish. His experience as a Development Manager further refined his ability to oversee projects holistically. Andrew specializes in managing large, complex, mixed-use, and residential projects. His skill in navigating these intricate developments is a testament to his expertise and problem-solving capabilities. Beyond his professional achievements, Andrew is a husband and father of four; he values quality family time, including being outdoors, baking, and enjoying the creative arts.

Flight to Experience: What Do Tenants Want?

Creating Spaces that Increase Property Values and Enhance Employee Productivity, Efficiency, and Collaboration

Kathy O’Kelley

Kathy O’Kelley

SVP, Portfolio Operations

Clise Properties

Christina McFadden

Christina McFadden

Senior Manager, Portfolio Strategy + Workplace Design

T-Mobile

Ryan JV Blanchard

Ryan JV Blanchard

Senior Manager, Workplace Design + Strategy

Starbucks

Kate Vincent

Kate Vincent

Principal

Boulder Associates

Rachel Fenton
Moderator

Rachel Fenton

Director

Boldyn Networks

Christina McFadden

Senior Manager, Portfolio Strategy + Workplace Design

T-Mobile

Experienced Workplace Strategist with a demonstrated history in the corporate workplace design and planning industry. Proven ability to build relationships with business units and influence various levels of management to gain acceptance and adoption of new initiatives. Manage team of planners and analysts in occupancy planning for headquarters and workplace strategy for national portfolio. Skilled in research & critical thinking; program/project management and functional design.

Kate Vincent

Principal

Boulder Associates

Principal and architect at Boulder Associates, Kate Vincent inspires her clients to evolve how they best live and work. Since 2020, she has been focusing on delivering transformative, new-era workplace environments that invite people to explore a variety of settings to optimize connection, collaboration, and productivity. Kate’s teams rely on her adaptability, consistency, and ability to perform under pressure while delivering innovative solutions for her clients. Valuing diverse voices in her field, Kate believes more people should have access to well-designed spaces. In addition to leading a fast-growing creative firm, she serves on the Project Committee of Architects without Borders. As a key leader in Boulder Associates’ workplace sector, Kate's dedication to her craft, clients, and team drives innovation and responsive design solutions in the rapidly evolving office landscape.

Rachel Fenton

Moderator

Boldyn Networks

Rachel Fenton is recognized for her work collaborating on and accelerating infrastructure projects with municipalities throughout the West. She has a Master of Urban Planning from the University of Utah, a strong background in Government Relations, and significant experience in the wireless industry. This diverse background gives her the ability to create and foster longstanding symbiotic relationships with Municipalities, commercial real estate developers, and partners in the wireless industry. As the Director of Wireless Solutions in the Pacific Northwest, Rachel is responsible for working with jurisdictions, building owners, developers, and wireless providers (T-Mobile, Verizon, and AT&T) to augment networks in hard-to-reach and dense places. Her role includes addressing one of the major challenges facing many cities right now, which is to bridge the digital divide. She brings with her twenty-eight years of experience and has spent over ten years working within the City of Bellevue. Working for Boldyn Networks, a wireless infrastructure powerhouse with a global presence, Rachel is part of an international team and works to deliver advanced shared network infrastructures that are needed for a smart, inclusive, and sustainable future.

What You'll Learn:

What You’ll Learn:

  • Gain insights into how developers and owners are adapting their strategies to navigate the persistently high vacancy rates in Seattle’s office market.

  • In the first half of the year, the Emerald City saw 2.5 million square feet of space delivered, almost nine times the figure delivered during the same interval in 2023. Understand the current office development pipeline and how these Class A office projects come to fruition in today’s volatile market conditions.

  • Explore the factors contributing to the flight-to-quality trend in the Seattle market and how it impacts office design and development.

  • Understand the current state of Seattle's leasing environment and the growth of tech tenants taking space.

  • Learn how landlords are adapting office leases to meet the changing needs of tenants and employees.

  • Discover what innovative design elements are being incorporated into office spaces to enhance employee well-being and productivity and how these align with the flight to quality.

  • Explore how the market is differentiating between premium, amenity-rich spaces and older, traditional offices in terms of vacancy challenges and tenant preferences.

How You’ll Do More Business: 

Seattle's office market is gradually improving, with vacancy rates decreasing and upcoming office projects nearly doubling compared to last year. While it will take some time to return to pre-pandemic levels, the current market is positive and there's an abundance to discuss. Join us for an insightful event as we bring in experts to explore the current state of the office leasing environment, deals, distressed assets, tech tenants, design trends and essential features to attract and retain tenants.

Who You'll Network With At This Discussion: 

Owners, developers, investors, brokers, city and government officials, business consultants, architects, engineers, lawyers, accountants and bankers.

Why You Should Attend This Session: 

Bisnow events bring together the biggest power players in the industry to help you identify opportunities, build your network and expand your business. With the largest audience of commercial real estate professionals in the world, no one knows how to help your business more than we do.

For questions, recommendations, comments or press inquiries please email our event producer, Bora Altunay, at bora.altunay@bisnow.com. To request disability-related accommodations, please contact rachel.sundin@bisnow.com no later than seven business days prior to the event.

Venue

Renaissance Seattle Downtown
515 Madison St
Seattle, WA 98104

Ballroom: Madison Ballroom


$17.00 event self-parking.

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Agenda

Time Activity
3:00 PM
4:00 PM
Breakfast & Networking
4:00 PM
4:45 PM
Navigating Seattle’s Evolving Office Market: Trends, Challenges and Opportunities

Delivering Top-Class Projects Amid a Volatile Market, Leasing Strategies, Market Trends, and Conversion Opportunities

4:45 PM
5:00 PM
Networking Break
5:00 PM
5:45 PM
Flight to Experience: What Do Tenants Want?

Creating Spaces that Increase Property Values and Enhance Employee Productivity, Efficiency, and Collaboration

5:45 PM
6:15 PM
Closing Networking

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