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Petit First Corporate Outsider Ever Named to Unico Board

SEATTLE-The president of R.D. Merrill Company, has been named to serve on the board of directors for Unico Properties, a firm formed in 1953 to partner with the University of Washington to develop and manage the UW's Downtown Metropolitan Tract.

By Joel Cone | Updated on June 25, 2003

SEATTLE-William D. Petit, Jr., president of locally-based R.D. Merrill Co., is the first person to be named to the Board of Directors of Unico Properties in the firm’s 50-year history who is not either directly related to, or closely associated with one of its six founding partners.

Unico was originally formed as a public/private partnership to manage and develop a 10-acre parcel of land in downtown Seattle that was the original campus of the University of Washington. The area is known as the Metropolitan Tract, and has been converted to a portfolio of office buildings.

During its more than half a century, Unico has generated more than $300 million in revenue for the UW, and is responsible for creating significant community benefits in downtown Seattle such as the restoration of the landmark 5th Avenue Theatre. Over the past decade, Unico has continued to diversify its portfolio significantly by acquiring premier office buildings in major Western markets and growing Northwest urban centers. Today the firm’s portfolio includes nearly six million sf of office and retail space in Seattle, Bellevue, Tacoma, Renton, San Francisco, Portland and Boise.

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