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November 14, 2014

Unico buys buildings in Pioneer Square

By JOURNAL STAFF

SEATTLE — An entity related to Unico Properties bought half a block along First Avenue South in Pioneer Square for $26.6 million, property records show.

The centerpiece of the deal is the four-story Grand Central Building at 216 First Ave. S., which Unico bought from an entity related to Goodman Real Estate for just under $16.5 million.

Unico also got two smaller structures on the block — the Buttnick and City Loan buildings — from Goodman for a combined $10.1 million.

The three buildings total 104,679 net square feet, according to property records, and the purchase price breaks down to about $254 per net square foot.

Unico's website says it owns and operates more than 13 million square feet of office properties, medical buildings and multifamily residences throughout the western United States.




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