Update for 1:05 p.m.
Lt. Ronald Rasmussen, shift commander for the Seattle Police Southwest Precinct confirmed that their department "was working in a support role for an operation that was conducted by the FBI."

Furthermore, Lt. Rasmussen said that since the FBI had the lead on the operation, the SPD is unable to comment with specifics.

SW Precinct Commander Steve Paulsen added the following: "The operation this morning was a joint effort between the Seattle Police Department and the FBI. We were going after one of West Seattle’s major bad guys and we got him."

A public information officer with the Seattle FBI branch did not have further information available at this time (if that changes an update will be posted).

Original post:
Seattle police pursued and caught prowlers in the area of Gatewood/Fauntlee Hills in the 6:00 am hour in West Seattle. The suspects were taken to the the Southwest Precinct for processing. During the pursuit police scanner traffic suggested that they were seen disposing of evidence while being pursued.
The incident briefly attracted news helicopters which hovered over the area.
There are also reports from this morning of police and SWAT doing early morning raid/search warrant in High Point / Gatewood area. According to the Southwest Precinct the FBI was conducting those searches this morning.
More details as they become available.