Space Needle Owner to Buy Part of Pacific Science Center

A piece of the Pacific Science Center is coming under the ownership of the privately owned Seattle Space Needle.

The nonprofit Pacific Science Center, after massive revenue losses and increased public funding, reached an agreement to sell the Boeing IMAX Theater as well as nearly 25 percent of the northeast corner of the PacSci campus, the Puget Sound Business Journal reported.

The buyer is Space Needle LLC, an entity linked to the Space Needle’s owners, the family of Space Needle contractor Howard S. Wright.Terms of the deal, including price, are expected to be disclosed once the deal closes.

Pacific Science Center is selling off the property to shore up its finances and ensure long-term financial stability, the outlet said.

The science center plans to continue operating the theater in the short term. The 1979-built theater is expected to close for renovations and open in May. But long-term plans, including any inkling of redevelopment, weren’t detailed.

The land purchased includes the theater, as well as Building 1, Carnevali Pavilion and a portion of the Ackerley Family Exhibit Gallery.

Pacific Science Center has been reevaluating its real estate strategy for years. Leaders of the nonprofit said it had more property than it could sustainably operate.

The center lost almost $5 million in 2024, when it reported $19.3 million in revenue and $24.2 million in expenses.

Sales of its real estate can “make a meaningful difference, but they cannot be the sole solution for revitalizing a civic center of Seattle Center’s scale and complexity,” said Diamatris Winston, acting director of the Seattle Center.

Proceeds from the sale are not expected to fully cover improvements needed to the Pacific Science Center.

“Broader public reinvestment remains essential,” Winston said.

The Pacific Science Center announced the development of a $20 million Maker and Innovation Lab last year, which received a $1.4 million grant from the state of Washington and $1 million from King County.

— Chris Malone Méndez