Fisher Communications says has retained a financial adviser to “explore alternatives for maximizing the value of Fisher Plaza in Seattle,” home to one of the region’s largest technology data centers, in addition to Fisher’s KOMO-TV and radio operations.

In a news release, the company says the outcome could include a possible sale or financing of the Fisher Plaza property. Proceeds would be used to redeem outstanding debt or repurchase stock. That repurchase could be as much as $32 million under terms of the company’s current financing arrangements.

Fisher Communications said earlier this month that revenue from Fisher Plaza grew $661,000, or 5 percent, last year, which puts the total at nearly $13.9 million.

The company has separately received millions of dollars in insurance reimbursements resulting from a high-profile 2009 electrical fire at the data center facility.

(Photo via Fisher Communications)