Home AEC 200,000 SQFT Tacoma Centre Begins Comprehensive Renovation

200,000 SQFT Tacoma Centre Begins Comprehensive Renovation

Tacoma Centre, Tacoma, Seattle, Kidder Mathews, Kirkland, MJR Development, Tacoma Financial Center, Puget Sound

Seattle, Wash. (December 13, 2022) – The office building at 1145 Broadway in Tacoma’s downtown core is getting a new look and a new name: Tacoma Centre. Kirkland-based MJR Development purchased the property, then known as Tacoma Financial Center, in January 2022. Kidder Mathews’ Will Frame, Drew Frame, and Ben Norbe represented MJR in the sale and are now managing the leasing.

MJR is planning a total transformation of the 15-story, 200,000-square-foot building. New additions will include a café & bar, lounge areas, conference rooms, and fitness center with locker rooms. With upgraded “lifestyle amenities,” the tower offers a new brand of office space — optimized for a culture of work/life balance and creative collaboration. Once complete, Tacoma Centre will be one of the only buildings in the city with a high-end lounge to accommodate casual team meetings, happy hours, and corporate events and soirees.

“Post-pandemic, workers want more than just office space — they want a work environment that can be integrated with their lifestyle,” said MJR President Mike Raskin. “Smart company leaders will establish offices in buildings where employees want to be.”

The remodeling will focus on common areas, and the building will remain open to tenants during construction. Interior designs will use natural materials, tall windows, and expansive views to create an environment that “inspires work and elevates life,” according to a brochure on the property’s new website. The multi-million-dollar renovation is scheduled to be completed in summer 2023.

As one of only a few Class A buildings in the city, Tacoma Centre is slated to raise the bar for the local market, leaning into a luxury experience designed to draw workers to the office for both business and lifestyle.

“Amenity-rich Class A properties are routinely outperforming others in the market. Over the last three years we have seen a major ‘flight to quality.’ Employers are more focused now than ever on providing a high-quality work environment for their employees,” said Drew Frame.

“Tacoma showed a strong resilience during the pandemic and continues its upward trend with over 7,500 apartment units in the pipeline. Puget Sound companies looking to attract high-quality employees will want to have a presence in Tacoma,” said Will Frame.

Tacoma Centre currently has 80,000 square feet of space available for occupancy. The tower can accommodate tenants of all sizes, including 24,000 contiguous square feet with small to midsized options in the 1,000 to 12,000 square foot range.

About MJR Development
MJR Development is a commercial real estate development firm that provides Class A satellite workspaces from Lynnwood to Olympia, Washington. The properties are strategically located near the I-5 corridor, allowing easy access to freeways and transit. Urban-style amenities are available on campus, while extended amenities are a short walk away. MJR owns 1.8 million square feet of office space in the Puget Sound region.

About Kidder Mathews
Kidder Mathews is the largest independent commercial real estate firm on the West Coast, with 900 real estate professionals and staff in 20 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, asset services, consulting, project and construction management, and debt & equity finance services for all property types. The firm performs $10.9 billion in transactions, manages 52 million square feet of space, and conducts over 2,600 appraisals annually.