Tacoma Tower offers a rare opportunity to acquire and reposition three iconic, lender-owned properties in the heart of Downtown Tacoma. The offering includes two adjacent office buildings, a multi-level parking garage, and approximately 105,148 square feet of commercial space along Pacific Avenue.

These historic properties offer significant flexibility, as several floors have been stripped to the studs, and the site includes preliminary redevelopment work and conceptual multifamily plans, providing a head start for an office renovation, residential conversion, mixed-use transformation, or customized owner-user solution.

With existing parking, commercial-income potential, historic character, and a prominent downtown location, Tacoma Tower creates a differentiated platform for long-term value creation. Investors can reposition the asset as a landmark office location, develop a distinctive residential community, or tailor the property to a specialized buyer while potentially benefiting from historic-property tax incentives and Downtown Tacoma’s evolving urban core.

Acquire a prominent downtown Tacoma asset with substantial redevelopment and re-tenanting potential.

Execute a full residential conversion, reposition the property as renovated office space, develop a mixed-use redevelopment, or tailor the asset for affordable housing, short-term stays, an owner-user, or a corporate headquarters.

Multiple floors have been stripped to the studs, creating a flexible starting point for a customized interior build-out.

The 17-story, 87,564-square-foot high-rise was built in 1912 and stood as Washington State’s tallest building until it was surpassed by Seattle’s Smith Tower in 1914.

As a designated historic landmark, the tower may be eligible for Tacoma’s Special Tax Valuation Program and federal historic rehabilitation tax credits, subject to project scope, confirmation, and agency approval.

Existing commercial tenancy, potential NNN income, and parking-garage revenue can provide diversified interim cash flow while an owner advances a long-term repositioning plan.

The multi-level, reinforced-concrete parking garage provides approximately 210 spaces and supports office, retail, residential, and mixed-use concepts.

The property is located near UW Tacoma, the Greater Tacoma Convention Center, Tacoma Dome, Museum of Glass, Tacoma Link light rail, Interstate 5, and Highway 705.

The property is located within a designated Opportunity Zone tract; future eligibility and potential tax benefits will be confirmed upon Governor’s upcoming federal submissions.