Mayor recognizes Nitze-Stagen and Daniels Real Estate for their
catalytic neighborhood developments, community stewardship
In Good Company business recognition program
Mayor Mike McGinn recognized Nitze-Stagen and Daniels Real Estate for their combined long history of urban renewal and historic adaptive reuse in Seattle. Daniels Real Estate is a sister company of Nitze-Stagen and was formed in 2007 with the same senior team as Nitze-Stagen.
The companies’ shared mission is to develop complex and challenging dense urban commercial real estate projects that make significant impacts on the communities where they are located. With an emphasis on adaptive reuse as the most green, sustainable development option, Nitze-Stagen and Daniels Real Estate work on legacy projects that are as much about bringing value to a neighborhood as they are about the project itself.
“It’s critical for our economy to stay competitive by attracting and nurturing our biggest resource – our people, and a critical part of that is having attractive neighborhoods,” said mayor Mike McGinn. “I applaud Nitze-Stagen and Daniels Real Estate for all the catalytic neighborhood development and historic preservation projects that they have invested in around our city, from Union Station to the Starbucks Headquarters, from the Cadillac Hotel to Stadium Place.”
A part of the Seattle Jobs Plan, the In Good Company program is an ongoing showcase of businesses that spotlights one locally-owned business every month for being unconventional, transformative, and exemplary. There are a lot of incredible businesses in Seattle, and if your business is recognized here, you know that you’re in good company.
“We work on very large, complicated urban projects that others have tried but failed to kick start,” says Kevin Daniels, president of Daniels Real Estate. “Our projects all have community investment facets related to them. We use patient capital and internal expertise to take them on.”
Daniels Real Estate’s approach is part of a business philosophy that grew out of its affiliation with Nitze-Stagen. “Their philosophy is generational and dates back over a century,” explains Daniels. “It continues to influence what projects we pick and what interests us.”
In his own company, Daniels has employed many of the skills he learned from Peter Nitze and Frank Stagen. “I’m tasked with not only preserving capital for future generations but at the same time looking for projects that can make a difference in a community,” says Daniels. “To that end, Daniels Real Estate is very much an extension of Nitze-Stagen in our current development of Stadium Place and Fifth and Columbia.”
“Nitze-Stagen approaches real estate with a combination of vision and pragmatism,” said Peter Nitze, president of Nitze-Stagen. “We see opportunities with a developer’s imagination and an investor’s prudence, which enables us to take a long-term approach and pursue projects that can be a catalyst for improving communities. We make an equal commitment to our investors, to our tenants, and to the communities in which we build. And we believe that if we work together with these parties, no real estate project is too ambitious or too difficult to achieve.”
“Seattle’s Starbucks Center is a prime example of the Nitze-Stagen vision in action,” continued Nitze. “At over 2 million square feet, the former Sears northwest catalog distribution center is the largest building in Seattle, and one of the oldest in the city. Prior to our involvement, most developers and city officials viewed it as a “white elephant” stuck in the midst of Seattle’s languishing industrial district. We saw it as premier storage, distribution, and office facility, situated at the nexus of rail, trucking, and shipping lines adjacent to the Seattle central business district. What’s more, we were sure we’d found a building that could anchor a neighborhood and serve as a catalyst for revitalization of the area.”
The result is Seattle real estate history: a landmark project that has become the centerpiece for the redevelopment of a neighborhood and is now one of the largest LEED Gold certified projects in the nation.
“Nitze-Stagen and Daniels Real Estate have built properties that are now iconic to our cityscape, and their impressive portfolio is testament to their civic involvement and investment in helping to attract and grow business in Seattle,” said Maud Daudon, president and CEO of Seattle Metropolitan Chamber of Commerce.
Businesses recognized in the In Good Company program receive several meaningful prizes to help their business grow and celebrate their employees, including a mayoral proclamation; a high-quality video profile featured on the Seattle Channel; a one-year membership or an upgraded tier of membership at the Seattle Metropolitan Chamber; and a special gift basket for employees containing food, drinks and prizes from some of Seattle’s most beloved local companies.
The highlighted businesses are chosen by the City of Seattle’s Office of Economic Development and the Seattle Metropolitan Chamber of Commerce by a committee of staff members who meet quarterly to select businesses to recognize. Individuals and businesses may also suggest recommendations via the Office of Economic Development.
For nomination criteria and more information, please visit the In Good Company website page.
In Good Company is brought to you by: Mayor Mike McGinn as part of the Seattle Jobs Plan;
Read the full mayor proclamation: