ABOUT PACIFIC PLACE
HIGHLIGHTS
- Renovations completed in 2020.
- Located in the heart of downtown along the Pike/Pine Corridor.
- Known as the best public parking garage in downtown Seattle.
- Easy access to the major freeways, light rail, monorail, and transit stations.
- Skybridge connection to Flagship Nordstrom.
- Adjacent to Amazon SLU campus.
- Within 3 blocks of the newly expanded convention center.
ABOUT SEATTLE
- Seattle attracts an affluent and highly educated demographic contributing to rising median income.
- Downtown Seattle residents have a $95K average income, median age of 37 and 68% hold a bachelor's degrees or higher.
- 28K housing units have been added since 2010 with another 14,191-unit growth planned through 2024.
- Ranked #13 as the best city to live in the U.S and #1 best city for outdoor recreation.
- December 2022 saw an 8% increase in visitors compared to December 2021.
- Downtown is the heart of the economy with 81% of the office inventory, 1 out of every 3 apartments in the region and 87% of the hotel rooms in Seattle.
MARKET MAP
SEATTLE TOURISM
- Tourism is rebounding from the pandemic with passenger activity at Seattle-Tacoma airport forecasted to reach 95% of pre-pandemic levels.
- T-Mobile Park will host the 2023 MLB All Star Game expecting to generate over $80M in revenue. The city of Seattle will also host the NHL Winter Classic in 2024 at Lumen Field, the first and second rounds of the NCAA playoffs in 2025 and The World Cup in 2026.
- The Seattle Convention Center was recently rebranded and concluded a $2 billion expansion and has over 40 conventions booked for 2023.
- Downtown Seattle has 107,700 hotel rooms, with 49,800 located in the Retail Core.
- Hotel Room Demand in 2022 was at 80% of 2019 levels with June through October above 90% each month.
- Hotel occupancy and RevPAR are expected to make a full recovery in 2024.
CRUISE VISITORS
- The Port of Seattle saw an 6% increase of cruise traffic in 2022 over 2019.
- 288 cruise ships carrying 1.4M people are expected to set sail from Seattle to Alaska alone in 2023.
- There are 3 cruise terminals that serve Seattle between 1 and 4 miles from Pacific Place.
- The terminal is less than a mile from Pacific Place and an estimated 15-minute walk.
- Pacific Place markets to this audience via Homeport Magazine through Visit Seattle as well as at the Pike Place Market Visitor Center.
SPORTS
- Climate Pledge Arena will host 50 NBA and NHL games this year. Attendance at games ranges between 10k - 17k.
- Lumen Field will host 42 sporting events in 2023. 9 Seattle Seahawks games will be held with attendance for each exceeding 68,000 fans.
- T-Mobile Park, home of the Seattle Mariners, will host 81 home games in 2023. Attendance at each game is over 28,000 fans.
- All Seattle sports venues are just over 1 mile from Pacific Place.
CONCERTS & SHOWS
- The sports venues in Seattle convert to concert venues throughout the year to make the city a year-round destination. In 2023, major musical talents have added Seattle to their tour schedules.
- Taylor Swift, Beyonce, Metallica, Coldplay and Ed Sheeran will play Lumen Field during the spring and summer of 2023.
- Madonna, Bruce Springstein, Stevie Nicks and Carrie Underwood each have tour stops at Climate Pledge arena.
CULTURE & THE ARTS
- Seattle is home to more than 80 theater companies, the Pacific Northwest Ballet and the Seattle Symphony.
- Home to four major art museums and galleries: The Frye Art Museum, Henry Art Gallery, Seattle Art Museum, and the Seattle Asian Art Museum.
- Downtown houses one third of all the arts and cultural space.
CARS & TRANSIT
- Seattle has a variety of public transportation options for traveling on land and on the Puget Sound. These include buses, street cars, ferries, water taxis, monorail and the Link Light rail, which allows visitors and residents to easily access downtown destinations.
- Seattle has invested in the expansion of the public transportation infrastructure including the light rail, ferry and water taxi service as well as bus amenities and bike lanes.
PACIFIC PLACE DEMOGRAPHICS
average annual income
70% TRUE TRADE AREA
30 MILE RADIUS
average annual income
$126,382
$118,296
POPULATION
863,022
3.5M
NUMBER OF HOUSEHOLDS
388,811
1.4M
median age
35.4
36.98
bachelor degree+
51.8%
46.1%
*SOURCE: Demographics: Placer.ai Insights: Census 2019 (Last 12 Months 2-8-22 through 2-9-23)
CONSUMER PERSONAS
Experian Mosaic clusters consumer segmentation groups based on shared traits such as gender, location and past purchases providing compelling customer-centric data. The Mosaic psychographic segmentation provides the ability to target consumer audiences based on their buying behaviors including values, lifestyle types, activities, opinions, and beliefs that compel them to purchase. The psychographic segmentation focuses on using qualitative data to build a complex customer profile. The following profiles highlight the Mosaic segmentation for the top three consumer groups based on the percentage of residents within 10 miles of Pacific Place.
20.5%
YOUNG CITY SOLOS
Younger and middle-aged singles living active and energetic lifestyles in metropolitan areas.
20.5%
POWER ELITE
The wealthiest households in the U.S., living in the most exclusive neighborhoods.
14.8%
BOOMING WITH CONFIDENCE
Prosperous, established couples in their peak earning years living in suburban homes.
YOUNG CITY SOLOS
Fast-paced, social & digital-first
Fanatically fit & functional foods
Contemporary, chef-driven dining
POWER ELITE
Affluent, sophisticated & adventurous
Nutritive with bold flavors
Fine & casual dining
BOOMING WITH CONFIDENCE
Peak of careers, sophisticated tastes
Enjoys nightlife & movies
Fine & Casual dining
PACIFIC PLACE ACTIVATION
1M
Annual Visitors
to Pacific Place
10
Family Friendly Events
in 2023
2
Music Series
(Summer & Holiday)
2
Fleur de Villes Events
(Pride & Holiday)
93 minutes
Average Dwell
Time
10,000
Email
Subscribers
21,000
Social Media
Followers
+7.5M
Social Media Impressions
in 2022
DISCLAIMER
© 2023 Madison Marquette. All rights reserved. This information has been obtained from sources believed reliable but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. Madison Marquette and the Madison Marquette logo are service marks of Madison Marquette. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.