Search
 

GlobeSt.com UPDATE: Unico Begins Allenmore Addition

TACOMA, WA-With the lease finalized for its anchor tenant, MultiCare Health System, Seattle-based Unico Properties gets started on a 65,000-sf medical office building on the MultiCare Allenmore Hospital campus here, where it owns one other building.

By Brian K. Miller | Updated on November 14, 2005

TACOMA, WA-Unico Properties Inc. is ready to launch construction of its second medical office building on the MultiCare Allenmore Hospital campus here. The Seattle-based real estate investment and operating company has finalized a lease agreement with MultiCare for 40,000 sf of the planned 65,000-sf building.

Unico acquired its first property there in January, paying $10.8 million for a 64,000-sf, multi-tenant mid-rise building known as Allenmore Building B. Unico’s VP of investments Jonas Sylvester told GlobeSt.com at the time that the property sat on six acres, a portion of which would be carved off for this second building, which MultiCare would anchor.

With the lease agreement not finalized, construction of the three-story Allenmore Building C is expected to begin shortly en route to a mid-2007 completion. Bill Frame of GVA Kidder Matthews represented Unico in the transaction. The builder is Turner Construction and the architect is Architects BCRA of Tacoma. MultiCare plans to use Building C to house a comprehensive outpatient imaging center, laboratory and office space for internal and family medicine doctors.

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.