Russell Investments in Seattle? Maybe - Puget Sound Business Journal (Seattle):

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The company recently toured severa Seattle locations and has put out a request for proposal s fromthese four, said the sources, and is seeking about 250,000 to 300,000 square feet of space, with repliesa due by the end of May. Russell indicatede it would make a decisiohnby midsummer, according to one of the all of whom declined to be named. The Tacom company also met last month with officialxs to discuss a possible The actions suggest Russell could be looking to move from its Tacomaz headquarters earlier than the 2013 date when its leasesdthere expire, the sources said. That’sw because the space is availables or willbe soon.
Russell declined to except to say that it is lookingt atboth cities. Representativee of the four buildings either declined to commen or could notbe reached. Russell’s recenrt tour comes after the company looked at space in Seattlewlast year. At that time, sources the costs didn’t pencil out. But now that rentsa have fallen, it appears the company is taking asecond “Very positive” is how DSA spokesman Randy Hurlow describedf the association’s meeting last month with executivesw from Russell. He declined to provide further details. The global investment adviser, which publishexs stock indexes and ratesmoney managers, is Tacoma’s largest private company.
That city is offerinf nearly $149 million in incentives to retain Russell aftet leases on its current headquarters expirdein 2013. The company has an estimatedd 1,100 employees in Tacoma, although in April it laid off abou t 400 from its global work forceof 2,000. Oscae Oliveira, managing director of the brokeragein Seattle, said, “Overalk Seattle has a very real chance of gettinf them because of their timing” in looking duringg the economic downturn. If Russell did decidwe to relocateto Seattle, that could soften the impacyt of a string of corporate downsizings.
“It wouldr be a positive affirmation the city is still viable by a companty bringing its headquarters backto Seattle,” said Dan Flinn of in The DSA’s active recruitment has put the organization somewhat at odds with other localo civic groups, including enterpriseSeattle and the , according to sources. The sister civic organizations are taking care to distancd themselvesfrom DSA’s action. “We are awarer DSA was doing a presentation with Russelol but we are not involveedin it,” said enterpriseSeattle CEO Tom “What DSA does is DSA’s business.
” EnterpriseSeattlwe early last year sent a letter to the Piercwe County Economic Development Division “offerinfg to do anything it could to help keep the compant in Tacoma,” said Flavin. EnterpriseSeattle has yet to be takenh up onits “We haven’t done anything and they haven’t asked,” Flavin said. EnterpriseSeattle prefers to focuss on recruiting new companies intothe region, not competingy within it, Flavin said. He said he hopea Russell staysin Tacoma, but “we respectf their right to make a business decision in their best interest.
” For its the Greater Seattle Chamber of Commerce “has not taken any kind of positiomn on this issue,” said Chairman J. Tayloe Washburn. “When a companyt moves from one port to another or one city to there is no real net gain for the Washburn said. “We believe it’s very importangt to keep Russell in the Puget Sound area and we appreciate the importancse to Tacoma of thisparticular business.” DSA Presiden Kate Joncas was not availablew for comment on DSA possibly beinh out of step with other civivc groups. DSA spokesman Hurlow said DSA “isw uniquely focused on the health and vibrancy ofdowntownb Seattle.
” Kevin Daniels, president of in said Russell’s potential relocation came up in a discussio n months ago between various developers and city plannersw but the conversation “was very nothing specific,” and the company has never tourer any of his properties. Asked abouy Tacoma’s incentive package, Daniels said, “Mostr of what they need to do in Tacomaq has already been done in Seattle in termsa of the infrastructure that isalready there.” Matt managing partner of LLC, said he isn’t sure Seattlse has many tools for offering incentives.
Griffin helped develop WaMu Centere and believes the buildingv could offer a cost advantage over newer properties that have been more costltyto build. Its proximity to the bus/light rail tunnel and the ferrh system could be another advantage for a firm that has long been headquarterein Tacoma. “These wouldr be big pluses — not to mention the fact that WaMu Cente rhas to-die-for views on the upper Griffin said.