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Unico Properties Buys Full Block In Seattle's Central Business District

Unico buys full-block office porfolio in downtown Seattle

Unico Properties LLC recently purchased two Class-A office buildings in Seattle’s central business district. The properties take up the 1100 block of Second Avenue.

The block includes two adjoining buildings that total nearly 706K SF. The first property is the 1111 Third building. It is a 33-story tower with 566K SF of traditional office space. The second building, 2nd & Spring, is a five-story historic creative office building that totals 140K SF. The buildings are 95% leased. The properties underwent a $65M renovation that was completed in 2017.

“Together, the buildings offer the rare combination of high-rise views and historic, creative office space, both of which cater to traditional, creative and technology clients,” Unico Properties Vice President and Regional Director Andrew Cox said.

The properties are attached by an alley sky bridge.

The 2nd & Spring building was constructed in 1906 and includes 15-foot vaulted and exposed ceilings, expansive window lines and exposed brick walls. It has parking, bike storage and showers.

“This purchase demonstrates Unico’s confidence in the continued relevance of the southern CBD,” Cox said. “With some of the best infrastructure in the city, this location will benefit from Seattle’s growing density and its waterfront development project.”

Related Topics: Unico Properties, Seattle CBD