Kidder Mathews secured a long-term lease for Commencement Bank at 1313 Broadway in downtown Tacoma. The bank will relocate to the approximately 18,000-square-foot space from its current headquarters at 1102 Commerce St. in early 2025.
Brokers Will Frame, Drew Frame, and Ray Schuler, SIOR represented Commencement Bank in leasing the full-floor space from X2Capital, LLC, owned by local developers John Xitco and Luke Xitco. The property is situated in Tacoma’s financial district, with immediate access to I-5 and within close walking distance to major hotels and retail in the downtown neighborhood.
“Commencement Bank’s relocation of its headquarters is an opportunity to gain efficiencies, promote their brand and build for the future,” said Frame. “We will continue to see this approach from tenants as strategic real estate decisions are a proven tool to optimize their position in the market.” Commencement is the largest bank headquartered in Pierce County.
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