Search
 

Unico Unloads 8 Office Properties for $83.27 Mil, Including One, Two, & Three Renton Place

RENTON, WA-The buyer, HAL Real Estate Investment, acquires a grand total of 670,000 sf here at an aggregate rate of $124/sf. Unico still owns several other office properties in the Renton area, and is bullish on the submarket.

By Janet Parker | Updated on January 19, 2001

RENTON, WA-Seattle-based Hal Real Estate Investment Inc. is the new owner of eight Renton office buildings totaling 670,000 sf. The company acquired the assets from Unico Properties for $83.27 million, or $124/sf, says Brad Lang, HAL’s newly appointed vice president of acquisitions and management.

HAL Real Estate is the investment arm of HAL Holdings N.V., a Dutch holding company traded on the Amsterdam Stock Exchange. Three of the properties are seven-story properties known as One, Two and Three Renton Place. Located adjacent each other on South Renton Village Place, they were constructed in 1980, 1986 and 1987, respectively, and respectively total 132,319 sf, 130,690 sf and 132,094 sf. The oldest building was renovated in 1993. Tenants include The Boeing Co., Sea-Land Service and Chase Manhattan Mortgage.

Four more of the buildings comprise the 201,448-sf Valley Office Park at 1801 Lind Ave. SW. Each building in the park is two stories and was built in 1980. Nearly 1,200 parking spaces come with the development. The final building, Blackriver 800, is a three-story, 75,000-sf development built in 980 and located at 800 Oakesdale Ave. SW.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.