Global accounting firm KPMG is adding space in downtown Seattle.
The firm is expanding its offices in Rainier Square with the addition of a third floor. The extra 21,044 square feet will bring its total space in the 58-story office and residential tower to 57,163 square feet.
A KPMG spokesperson on Tuesday said the expansion, set to open in late summer, is a result of high occupancy on its current two floors in the tower, which is at 401 Union St.
"This expansion is a reflection of our continued growth and success in the region," Amy Banovich, KPMG's Seattle office managing partner, said in a statement to the Business Journal. "With this new space, we will be able to accommodate more professionals and enhance our ability to collaborate and innovate."
KPMG currently occupies Rainier Square's 27th and 28th floors. The new space, located on the 20th floor, will have workstations, collaborative workspaces, private offices, a wellness room and a mother's room, the spokesperson said.
KPMG now has nearly 700 employees in Seattle, according to the firm.
KPMG first moved into Rainier Square in May 2022. At the time, the firm was shrinking its office footprint after moving from 1918 Eighth in the Denny Triangle, where it had 52,000 square feet. The new floor at Rainier Square will give the firm more space than it had at 1918 Eighth.
"I think all businesses are dealing with that, cutting back on real estate costs," Banovich told the Business Journal in 2022. "But how do you grow and fit everybody if they actually come in?"
She added at the time Rainier Square was appealing because of its location in Seattle's central business district.
Amazon first agreed to lease the tower's 722,000 square feet of office space in 2017 but backed out of plans to move in. The tech giant is now subleasing space in the tower.
KPMG operates in 143 countries and had over 270,000 employees in 2023. In addition to its tax and audit services, the firm offers tech, analytics and strategy services. The firm's U.S. headquarters is in New York City.
According to the fourth quarter Seattle office market report from commercial real estate firm Colliers, the Seattle vacancy rate hit 25.6% during the quarter, up from just over 20% during the fourth quarter of 2022.
