The fifth largest airline in North America grows its square footage by more than 69,000 square feet to expand its simulator training space and position itself for growth for many years to come
SEATTLE (March 7th, 2023) — Unico Properties LLC, a real estate investment and operating company, has secured a 20-year renewal and expansion of Alaska Airlines’ lease to 107,000 square feet at its Longacres Campus (Longacres) in Renton, Wash. Located in the North Building of Longacres, Alaska Airlines originally held approximately 38,000 square feet of space in the building.
Located at 1901 Oakesdale Ave. S.W., Longacres encompasses 962,800 commercial square feet between two class A office buildings (the North and the South Buildings), it includes a Bright Horizons daycare facility, and approximately 2,700 parking stalls across the 158-acre site. A transit-oriented property, the site sits next to the Tukwila Transit Center with next-stop access to downtown Seattle. Unico purchased the Boeing Commercial Airplane HQ facility at Longacres from The Boeing Company in December 2021.
“While much of the Puget Sound Region’s leasing activity has slowed, Renton has been a bright spot which was further cemented by Alaska Airlines’ renewal and expansion at Longacres. We’re honored to support Alaska’s future growth and development,” said Liz Thorson, Unico Properties Director, Market Leader.
Alaska Airlines, the fifth largest airline in North America, is growing its square footage by more than 69,000 square feet at Longacres to expand its simulator training spaces and position itself for growth for many years to come. Of the 107,000 square feet in the North Building, Alaska Airlines will dedicate 66,000 square feet to flight simulation equipment and 41,000 square feet to office space that supports that simulation training. Longacres’ North Building is a three-story, 586,000-square-foot office building.
“Alaska Airlines is thrilled to have this opportunity to work with Unico to extend our current lease from Boeing and to expand our simulator training spaces, positioning us well to support our growth for many years to come,” said Teri Sato, GM of Alaska Airlines’ Corporate Real Estate.
Alaska Airlines was represented by Kris Richey Curtis of JLL.
“This project could not have been a better fit for Alaska’s specialized use and continued commitment to flight safety. It will be exciting to watch Unico’s Longacres vision come to fruition with Alaska’s activity and other future developments,” said Kris Richey Curtis, Managing Director, JLL.
In February 2022, Unico and Seattle Sounders FC announced plans to work in partnership to develop the team’s new headquarters, a world-class sporting facility for Major League Soccer’s winningest team over the past decade, in the South Building at Longacres. The facility will include four full-size training pitches and 50,000 square feet of space for both of the club’s soccer operations and front office personnel. The South Building is a five-story, 321,800-square-foot building. Known as the Sounders FC Center at Longacres, the project is expected to open in 2024.
“Anchored by both Alaska Airlines and the Sounders at Longacres, we’re seeing a lot of momentum for this state-of-the-art campus and for the Renton market, and we’re excited about the future of this region,” added Thorson.
With direct connection to commuter rail with next-stop access to downtown Seattle, Longacres is located five minutes from Southcenter Mall, and offers a park-like campus with two separate ponds, an apple orchard, and a one-mile walking/running trail on-site. Unico is planning capital investments to refresh and modernize the properties. In November 2022, Unico was named Developer of the Year by the Washington Chapter of the commercial real estate trade group NAIOP at its annual Night of the Stars gala, and Unico’s acquisition of Longacres was named Deal of the Year.
About Unico Properties LLC
Unico Properties LLC, a subsidiary of Unico Investment Group LLC, is a commercial real estate investor, developer, and full-service operator focused on office and multifamily assets in emerging markets throughout the United States. Founded in 1953, Unico has been transforming the built environment by creating innovative, people-focused building experiences through a cadre of subsidiary companies that deliver boutique expertise and institutional execution for its own accounts and select third-party clients. The private equity real estate investment firm currently owns and operates 17 million square feet of commercial properties across the United States and continues to grow.