Home Commercial Unico Properties Secures 100,000 SQFT Renewal of Namesake Lease at Moda Tower,...

Unico Properties Secures 100,000 SQFT Renewal of Namesake Lease at Moda Tower, Signaling Company’s Commitment to Downtown Portland

Unico Properties, Moda Tower, ARA, ODS Tower, Portland, Moda
Courtesy of Cheryl McIntosh

PORTLAND, Ore. – Unico Properties LLC, a real estate investment and operating company, has secured the renewal of a more than 100,000-square-foot lease for Moda at the company’s namesake tower in downtown Portland.

“This renewal signals Moda’s continuing commitment to serving as the building’s lead tenant and namesake,” said Charlie Floberg, Unico Properties Director, Market Leader. “We’re very excited to support Moda’s desire to remain headquartered in downtown Portland and we’re thrilled to keep this premier Oregon company at a fully-reimagined Moda Tower. In support of the company’s commitment to remain in the building, we delivered an exceptional amenity package and first-class tenant experience.”

“Since our founding in Portland almost 70 years ago, we have been committed to this city,” says Dave Evans, Chief Financial Officer at Moda. “We built this tower as our new headquarters in 1999. It was the first major tower built downtown in 10 years. The signal then was the same as this signal we send today. We are committed to downtown, to this city, and to this community.”

In April 2021, Unico and American Realty Advisors (ARA), an institutional fund manager with more than $11.4 billion in assets under management, completed an almost $6 million lobby remodel and other renovations to deliver state-of-the-art amenities at Moda Tower.

 Renovations at the building include:

  • The Gym – A new fitness center that features a spin cycle studio, individual walk-in spa showers, and new lockers.
  • The Den – A new tenant lounge that features a shuffleboard.
  • The Study – A new conference room with a vast, 65-person capacity, video conferencing technology and a state-of-the-art AV system.
  • The Lookout – A new, 800-square-foot, outdoor terrace, overlooking downtown Portland.

In 2018, ARA and Unico acquired Moda Tower, the 398,412-square-foot, Class A office tower in Portland’s central business district (CBD). Located at 601 S.W. 2nd Ave., Moda Tower, opened in 1999, was formerly known as ODS Tower.

With a Walkability Score of 99, a Transit Score of 97 and a Bike Score of 98, Moda Tower is centrally located just steps away from Pioneer Place. The LEED(r)-EB Platinum and Fitwel VRM certified building features unobstructed views of Mt. Hood and the Willamette River. The 24-story building also has a Nordstrom Rack and a YMCA Daycare on-site.

About Unico Properties LLC

Courtesy of Unico Properties

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 18 million square feet of commercial properties across the United States and continues to grow.

About American Realty Advisors, LLC

American Realty Advisors (“ARA”), headquartered in Los Angeles, CA, is a private equity real estate investment manager working on behalf of institutional capital and has over $11.4 billion in assets under management. Through a series of offerings of core, core-plus, and value-add strategies which include equity, debt, preferred equity, mezzanine and hybrid debt, ARA invests in a wide range of opportunities in high-quality industrial, residential, office, retail, and other property types throughout the United States.

About Moda

Founded in Portland in 1955, Moda is a company committed to building healthier communities. With more than 1,300 employees in three states, Moda has more than 400,000 members in its medical plans and nearly 1 million members in its stand-alone pharmacy segment. The Moda family of enterprises includes Moda Health, Ardon Health, Arrow Dental, Astra Practice Partners, BenefitHelp Solutions, Eastern Oregon Coordinated Care Organization, Emerging Health, Moda Assurance Company, ODS Community Dental, OHSU Health IDS, and Summit Health. Affiliated companies include Delta Dental of Oregon and Delta Dental of Alaska with more than 1 million dental members. In 2013, Moda launched a landmark community investment agreement with the Portland Trail Blazers. In recognition of Moda’s commitment to that partnership, the team renamed its arena, Portland’s central city landmark, the Moda Center.